General Electric Plummets 11% for Worst Loss in 11 Years

Signage is displayed outside the General Electric Co. (GE) Aviation assembly plant in Lafayette, Indiana, U.S., on Friday, July 19, 2019. General Electric is scheduled to release earnings figures on July 31.Photographer: Luke Sharrett/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Courtney Dentch

August 15, 2019 at 8:06 PM UTC

This article is for subscribers only.

General Electric Co. shares ended Thursday’s trading session lower by 11% in its worst one-day loss since April 11, 2008, after a financial analyst working with a short seller accused the company of “accounting fraud.” GE Chief Executive Officer Larry Culp called the claims “market manipulation -- pure and simple.”

The stock fell to $8.01 per share at 4:05 p.m. in New York, the lowest price since Jan. 4.