The Miami Entrepreneur

GE’s stock rises again, toward longest win streak in 6 years

Shares of General Electric Co. rallied 2.3% in afternoon trading Thursday toward a seven-week high, to put them on track for the longest win streak in six years. The industrial conglomerate’s stock’s extended rally comes two days after GE reported a big second-quarter profit beat, surprisingly positive free cash flow and the first revenue beat in six quarters. The stock has run up 19.8% amid a 10-day win streak, which would be its best performance over any 10-day period since hiked up 20.6% over the 10-day stretch ended Nov. 20, 2020. A 10-straight gain would be the longest win streak since the 10-day streak ended July 19, 2016, but the stock rose just 4.7% during that win streak. Despite the recent gains, GE’s stock has still lost 5.8% over the past three months and dropped 22.5% year to date, while the S&P 500 has declined 5.1% the past three months and lost 14.6% this year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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