when ge stock reverse split

How much was the GE reverse stock split?

$103.60General Electric Co. shares will begin trading Monday at a reverse split-adjusted price of $103.60. The 1-for-8 reverse split, which was approved by shareholders at the company's annual meeting in May, reduces the number of shares from approximately 8.8 billion to 1.1 billion.

Why did GE do a reverse stock split?

Why is GE doing this? GE said its board recommended the move to reduce the number of shares outstanding to a number “more typical of companies with comparable market capitalization.” GE has 8.8 billion shares outstanding, and it is one of the most widely held stocks.

When did GE Announce reverse split?

BOSTON — June 18, 2021 — GE (NYSE:GE) announced today that it will proceed with the 1-for-8 reverse stock split previously approved by GE shareholders at the annual meeting of shareholders on May 4, 2021.

What happens to GE stock after company split?

These spin-offs are not totally unlike what happens when a company splits its stock, said Kelly Shue, a finance professor at the Yale School of Management. "Your original stock is now a share in GE aviation, but you also get these special stock dividends," Shue said. "You're still going to own all three branches."

Did GE reverse split get approved?

The reverse stock split, authorized share reduction and par value reduction were approved by GE shareholders at the annual meeting of shareholders on May 4, 2021.

Is a reverse split good?

Positive. Often, companies that use reverse stock splits are in distress. But if a company times the reverse stock split along with significant changes that improve operations, projected earnings and other information important to investors, the higher price may stick and could rise further.

How many times did GE stock split?

Not at all. You can't compare GE's stock price in 1892 with its stock price today because GE stock has split nine times. A stock split lowers the per- share stock price by issuing additional shares to existing shareholders. There is a history of GE's splits at the FAQ link above.

Is General Electric stock going to split?

GE Healthcare will be spun off in early 2023, with GE retaining a 19.9% stake. The GE Power, GE Renewable Energy, and GE Digital units will be put together and spun off in 2024. The remaining GE will be an aviation-focused company. The process will result in one-time separation costs of $2 billion.

What is a reverse stock split 1-for-8?

Reverse stock splits increase a company's stock price on a stock exchange. As an example, in a 1-for-8 reverse stock split, every eight existing shares of stock get merged into a single share that costs eight times as much money to buy on the stock market.

Is GE a good stock to buy 2021?

Bottom line: GE stock is not a buy. Over the long term, buying an index fund, such as SPDR S&P 500 (SPY), would have delivered safer, higher returns than GE stock. If you want to invest in a large-cap stock, IBD offers several strong ideas here.

What 3 companies is GE splitting into?

On November 9, General Electric (NYSE:GE) announced a three-way breakup of the company. Combining GE Renewable Energy, GE Power, and GE Digital into one business, positioned to lead the energy transition, and then pursuing a tax-free spin-off of this business in early 2024.

Is GE a buy or sell?

The median P/B ratio for stocks in the S&P is just over 3....Momentum Scorecard. More Info.Zacks RankDefinitionAnnualized Return1Strong Buy25.08%2Buy18.56%3Hold10.15%4Sell5.79%2 more rows