General Electric has faced a downward curve for the year 2018.
The company has faced several problems and debts have increased. Share prices have dropped drastically. Dividends at GE have been cut by around 90 percent.
But on Wednesday, the shares of General Electric, GE, were up by 5 percent. The prices were trading at $7.65 per share, driven by news. The company may give away the health care sector through an IPO.
Share prices have fallen by 75 percent in just two years and it has received a sell rating by almost all analysts.
The IPO may be just the dawn of a new era that may be positive for General Electric.
The share price touched a low of $6.66 per share. As long as this level holds, the company may see some upside from here. If the prices hold above its 21 DMA, it may run a bit higher. Analysts feel that the pullback is best if it is steady and not too fast, as it may fizzle out early.
Analysts from Vertical Partners have given a buy call on General Electric after a decade. In 2007 Jeff Sprague from Vertical Partners had warned investors that the company may have peaked out. In 2007, General Electric was considered one among the most valued companies of the country.
Over the past week, the shares of General Electric have gone up by 13 percent.
Stephen Tusa who has been bearish on General Electric for a long time has removed his short call on the company.
GE has filed for an IPO in its health-care business and the listing may take place at the beginning of the New Year. If all works out fine, it would be one of the largest public companies at the global level. The separate health care business will help the company to have better flexibility for greater growth, feel analysts.