Shares of GE (GE) Continuing Lower; Approaching $9 Level

After opening about 2% higher, shares of General Electric (NYSE: GE) are now trading about 3.3% lower, attempting to break below the $9 level. The stock most recently traded at $9.07.

Today's move follows Friday's 6.8% decline, which took shares of GE below the $10 level for the first time since the mid-90's. Today's initial gap higher may have been short-sellers taking profits on the stock, but it appears traders are now selling the stock once again.

We are not hearing any news out of the company, however, Deutsche Bank issued a research note earlier cutting its price target on GE from $17 to $12. The new price target essentially values GE Capital at $0. Click here to read the full report on the research note.

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