If you had invested $1,000 in General Electric stock at the low point of the pandemic, here’s how much you would have now

Investors who bought stocks during the COVID-19 stock market crash of 2020 have generally seen strong gains over the past two years. But there is no doubt that some big-name stocks have performed better than others since the trough of the pandemic.

GE’s Great Race: A company that has been a solid investment for the past two years has been General electric company GE.

At the start of 2020, GE shares were trading around $11.20. In early March, the stock was trading around the same level, even after news of the spread of COVID-19 in China sparked concerns of a US pandemic. On March 18, GE shares fell to $5.90 in intraday trading. The stock finally hit its pandemic low of $5.48 on May 13, 2020, after the company announced it was cutting 13,000 aviation jobs.

In October, GE investors were again hit by the company’s inherited accounting issues when GE announced it had received a Wells notice from the SEC that the regulator may bring civil action against the company in connection with an ongoing investigation into its electricity and insurance business. Fortunately, GE agreed to pay a $200 million fine to the SEC in December, which officially ended all ongoing investigations.

In July 2021, GE completed a 1-for-8 reverse stock split to drive its stock price back above $100.

Related Link: If You Invested $1,000 In United Airlines Stock At Its Pandemic Low, Here’s How Much You’d Have Now

GE In 2022, beyond: The stock eventually hit its post-pandemic high of $116.17 in November 2021, before returning to $94.62 today.

Still, investors who bought GE shares on the day they hit pandemic lows and held strong have generated a good return on investment. In fact, $1,000 of GE stock purchased on May 13, 2020 would be worth about $2,060 today, assuming dividends reinvested.

Looking ahead, analysts expect GE stock to gain more ground over the next 12 months. The average price target among the 16 analysts covering the stock is $116.50, suggesting a 23% upside from current levels.

Photo: Courtesy of Thomas Hawk on Flickr

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