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The last time GE’s stock did this, it tanked 45 percent

February 26, 2019

Via: CNBC

Shares of General Electric are approaching a key level that has historically sparked big reversals in the stock.

GE’s stock rallied as much as 13 percent on Monday after the embattled company said it will sell its life sciences business to Danaher, GE CEO Larry Culp’s former employer. They were up 3 percent in Tuesday’s premarket.

The rally comes as the company has soared more than 60 percent off its now infamous $6.66 bottom in December, and follows a multiyear downtrend fueled by a combination of high restructuring costs, weak performance in key lines of business, crippling one-time charges and top-level executive changes.

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