Anonymous ID: 151290 Nov. 13, 2018, 9:16 a.m. No.3885513   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun

"The Collapse Has Begun" - GE Is Now Trading Like Junk

 

Two weeks after we reported that GE had found itself locked out of the commercial paper market following downgrades that made it ineligible for most money market investors, the pain has continued, and yesterday General Electric lost just over $5bn in market capitalization. While far less than the $49bn wiped out from AAPL the same day, it was arguably the bigger headline grabber.

 

The shares slumped -6.88% after dropping as much as -10% at the lows after the companyโ€™s CEO, in an interview with CNBC yesterday, failed to reassure market fears about a weakening financial position. The CEO suggested that the company will now urgently sell assets to address leverage and its precarious liquidity situation whereby it will have to rely on revolvers - and the generosity of its banks - now that it is locked out of the commercial paper market.

 

https://www.zerohedge.com/news/2018-11-13/collapse-has-begun-ge-now-trading-junk

 

totally agree. When you are shut off from this source it can only mean one thing.

But hey it's only GE right?

KEK!