General Electric is Down Bad, Dawg
Oh, how the mighty have fallen.
June 14, 2019
"Damn, homie. Back in the day, you were the man, homie — what happened to you?" (We know those aren't the exact lyrics but bear with us). General Electric, the once corporate juggernaut turned washed-up afterthought, has had a rough few years. The stock has dropped 70% since 2016, and it's not showing any signs of slowing down...at all.
It's gotten so bad that it's been reported that G.E. is trying to sell its stake in more than 100 startups. That's a big deal. Instead of being able to hold onto its investments until those companies (hopefully) become public, and G.E. can get its big payday, they're selling their stake in those startups to get quick cash to pay down their debts.