General Electric shares are sinking on a scathing note from a top analyst and concerns around cash flow. CNBC's Jim Cramer, a GE analyst and an investment expert react.
General Electric shares continued to plummet Wednesday after the company said this week that its industrial unit would be cash flow negative for 2019. The stock took another hit after renowned GE analyst Stephen Tusa doubled down on his scathing call on the industrial giant.
In another note Wednesday, Tusa reiterated those calls, arguing that as long as Wall Street continues to say GE's power unit isn't that bad,"we don't think the stock can bottom." •CNBC's Jim Cramer, host of "Mad Money," was flabbergasted, saying on "Squawk on the Street" that Culp's announcements felt like someone dropping a bomb on his head:"I went out with a group of portfolio managers last night. All we wanted to figure out was how bad it really was versus how bad it was. [...] I mean, come on. You dropped a bomb on my head. And I don't really care if it was 50 megaton or 70 megaton, but it was really sobering.
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