GE Is The Worst Performing Dow Stock Since Immelt Became CEO
Of all companies that remain in the Dow Jones Industrial Average since Sept. 7, 2001, when Jeffrey Immelt took over as chief executive officer of General Electric & Co. , GE's stock has been by far the worst performer, and one of only two that have declined. GE's stock has plunged 29.6% since Immelt took control through Friday, while the second-worst performer, which is AT&T Inc. shares , has lost 5.4%. Meanwhile the Dow has more than doubled, rising 121.5%, and the best performer has been McDonald's Corp.'s stock , which has soared more than five-fold, or 405.6%. GE has sold off $198 billion worth of assets since it announced its GE Capital Exit Plan in April 2015, as the company looked to shift its focus on its industrial businesses. The stock surged 4.2% in active premarket trade Monday, after GE announced Immelt was retiring. Year to date, it has shed 11.6%, while the SPDR Industrial Select Sector ETF has gained 9.1% and the Dow has tacked on 7.6%.
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