Home Market Spotlight GE stock’s bull rally puts it on track for longest winning streak in more than 50 years

GE stock’s bull rally puts it on track for longest winning streak in more than 50 years

by WOOWinvest
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GE stock’s bull rally puts it on track for longest winning streak in more than 50 years


Shares of General Electric Co. GE continued to climb on Friday, up 0.53%, and were up 0.7% in midday trading for their 11th straight gain. The stock rose 20.6% after closing at a 20-month low of $61.09 on July 14. Many on Wall Street define a bull market as a rise of at least 20% from a bear market. The industrial conglomerate, which plans to split into three separate companies, posted big profits and surprisingly positive free cash flow on July 26, helping fuel the recent rebound. The stock’s 11th winning streak would be the longest since FactSet data dates back to January 1972. Since then, there has been a 10-day streak of gains, ending in July 2016, December 1999 and January 1987. There are also three consecutive 11-day non-losses, which include the number of days the stock was unchanged at the end of February 1991, May 1990, and May 1981, and the 12-day non-loss at the end of November 1980 . It rose 15.7% in July, which would be the biggest monthly gain since a 17.4% rise in February 2021.

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