GE’s stock rises toward longest win streak in nearly 6 years

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Shares of General Electric Co. GE, +0.70% rose 0.8% in afternoon trading Friday, to put them on track for the longest win streak in nearly six years. The industrial conglomerate’s stock has gained 11.0% amid its current seven-day streak of gains, which was launched after the stock dropped 7.8% in two days following fourth-quarter results to close Jan. 26 at the lowest price since Feb. 1, 2021. Seven straight gains would be the longest such streak since the 10-session stretch that ended July 19, 2016. Since then, there had been nine six-day win streaks before the current streak. Despite the recent gains, the stock was still 3.9% below its January closing peak of $103.16 on Jan. 14. GE’s stock has still lost 5.8% over the past three months, while the SPDR Industrial Select Sector ETF XLI, -1.08% has shed 4.6% and the S&P 500 SPX, +0.52% has slipped 3.4%.

This article was originally published by Marketwatch.com. Read the original article here.

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