Congratulations, you just made a 30% return on your investment!
On the 19th, President Bush announced that the United States would invade Iraq. The announcement had little effect on the price of GE’s stock. It seems like the beaten down bulls have some kind of restored confidence. Being the contrarian you are, you went long when everybody was selling out. This was a smart move.
As with most cyclical companies this year, GE did very well. These stock prices are powering higher through a lot of bad news. The company grew its top line revenue growth by 10% as well as generating significant profits. It would be a stretch to say that this war has had a significant impact on General Electric’s profits. The stock is up almost 30% from where you bought it.
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