Quote:
Originally Posted by lewdog
Sometimes stocks are “cheap” for a reason. Ask people on here who bought GE near $20.
Until they put together a strategic turn around plan, I’ve got better places to put money.
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I got very very lucky with GE. I sold the stock at $17 for a nearly a $3,000 loss but thanks to having PUT options that went up nicely, I sold the puts shortly after selling the stock and lost only about $280 dollars.
If I held onto the puts after I sold the stock, I would have MADE money a few days later.
GE has worse problems than they claimed to disclose at the big write down. I don't trust their accounting and that all the bad news is still out. I could see more dividend cuts.
Looks cheap but it could get under $10 IMHO.
I certainly didn't think so at $19+ when I bought shares.
