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

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RR Phantom

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"The Collapse Has Begun" - GE Is Now Trading Like Junk Vide
PostSubject: "The Collapse Has Begun" - GE Is Now Trading Like Junk   "The Collapse Has Begun" - GE Is Now Trading Like Junk Icon_minitimeTue Nov 13, 2018 4:41 pm
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 Collapse Has Begun" - GE Is Now Trading Like Junk GE%20CP%20hole

The shares slumped -6.88% after dropping as much as -10% at the lows after the company’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?fbclid=IwAR3bOCFKkt-MqZyvYneMSV0pHUHWveQOeDUyW1yMDTH0WALyO8Fd-Og_JS4
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