Here's Why General Electric Stock Surged in February
Shares of industrial giant General Electric (NYSE: GE) soared by 18.5% in February, according to data from S&P Global Market Intelligence. The move comes from a well-received set of fourth-quarter earnings at the end of January and positive guidance for 2024.
Equally importantly, GE issued a Form 10 with the Securities and Exchange Commission to register the securities of GE Vernova for trading in the United States. GE Vernova is a power, wind energy, and electrification business set to be spun off on April 2.
The company is far from the tumultuous period of 2017 and 2018, when soon-to-be short-term CEO John Flannery replaced long-term CEO Jeff Immelt and then ultimately current CEO Larry Culp in 2018. The company's very ability to survive was under question back then.
Source Fool.com
