GE (GE) Investors "Sell-the-News", What Now?

As expected, investors/traders are "selling-the-news" in General Electric (NYSE: GE) after its much anticipated analyst meeting today. Shares of GE were up 16% this week into the meeting. This is a classic example of the old Wall Street saying "buy the rumor.... sell the news."

Shares of GE ramped higher again this morning, but have been trending lower ever since. Now down 1.5% to $16.64.

With shares near $17, there is little upside to Goldman's Sachs recently raised price target of $18. Goldman was the firm that was touting the stock ahead of the meeting. But interestingly, Goldman called the meeting a potential catalyst for long-term investors. It will be curious to see if Goldman raises their target again following the update. Goldman recently said there is room to run an additional 30% to the $18 target if they switch their valuation methodology. Investors are yelling "switch! switch!, switch!" --- but it remains to be seen what happens.

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