General Electric Follow Up
I just wanted to post a quick follow up (after a well satisfying Pakistani meal). On Friday I was disappointed on the GE stock price performance. Yes they missed revenue, but it's still a solid company. However, one thing I did say was that I felt it would recover back to the prior day's close, and it did! Closed at $19.15, exactly the same as the prior day's close. I'm actually pretty impressed at myself, I firmly believe this company should support a strong stock price, and there is a case for a minimum price of $20.
Let's see in a couple weeks what they do with the dividend. It looks like they may be able to resume the dividend from GE Capital, and this would get passed onto shareholders. This is subject to fed approval, and so it seems somewhat unlikely given what they've done for the rest of financial sector dividends. Based on history, I'm looking for a dividend announcement on the 3rd of February. Even if GE Capital cannot resume their dividend, perhaps they will still give us an extra penny per share. I'm an optimist.
I look forward to seeing where this will go this week, I'm bullish, of course, but it's a low volatility stock and it might hover in the mid-19's for the week before breaking out past $20 next week.
Good luck to all