General Electric (GE) will split into 3 separate companies. Its aviation, healthcare, and energy businesses will all become separated. The company is planning to separate its healthcare business in early 2023, and the energy business will become separate in early 2024. Because of this announcement, the company’s stock went up by a crazy 17% in premarket trading, and went up another 6% during the market trading. GE stock is already doing well in 2021, as it has increased by 25% since the beginning of the year. GE recently got a new CEO in 2018, Larry Culp. He has sold off many of the company’s assets to lower costs and lower its debt. The aviation business will keep the name General Electric after the split.
Did you know this?
For a few years in the past, GE was the biggest company in the world, as its market cap once reached $500 billion. It is only worth $119 billion right now.
Source: https://www.cnn.com/2021/11/
