In other news, General Electric Company (NYSE:GE) is trending after after John Inch of Gordon Haskett stated that the stock could dip to as low of a level as $5 per share. General Electric Company (NYSE:GE) has dissapointed investors due to its financial performance in the past, and when asked by investors what the ultimate downside is for GE is, Inch states, “On a free cash basis, and assuming that GE Capital does not ultimately face insolvency, we estimate GE could trade for $5 share.” Inch doesn’t believe GE can completely dismantle to truly realize the value of the sum of its parts because it has to maintain certain sales and assets to meet various debt requirements of GE Capital. Despite Inch’s opinion, shares of GE are up over 1% in late afternoon trading.
A total of 44 of the hedge funds tracked by Insider Monkey were bullish on General Electric Company (NYSE:GE), a change of -6% from one quarter earlier. On the other hand, there were a total of 52 hedge funds with a bullish position in GE at the beginning of this year.
SunPower Corporation (NASDAQ:SPWR) shares are 5% in the green after on the back of speculation that the NEA of China could increase the 2020 target for solar development to potentially 210 GW or even between 250-270 GW. Total installed capacity in China is around 165 GW as of September 2018. Although SunPower Corporation (NASDAQ:SPWR) isn’t a Chinese company, more demand for solar from China reduces its competition.