General Electric (GE US) short interest is $1.08 billion, the 2nd largest short in the Industrial Conglomerate Sector behind $MMM with $1.4 billion of short interest. GE has 125.9 million shares shorted, for 1.46% of the float, and shares shorted have been flat in November despite GEâ€™s stock price declining by 21.5%.
GE short interest is $1.35 billion, with 121.26 million shares shorted, for 1.41% of the float.
Shorts are up $103 million in mark-to-market profits today on GEâ€™s -7.5% price move. This brings year-to-date mark-to-market profits up to $853 million, a 47% return for the shorts in 2018.
Shares of Boston-based General Electric, the one-time colossus of American industry dropped again this week in unusually high volume. Shares of the 126-year-old company have dropped steadily since the 50-dav average fell below the 200-day average on March 8 last year. Technical traders see the death cross as a sign of institutional momentumâ€”on the selling side. General Electric has proven to be the second most profitable short this year earning skeptics $673 million a 36% return, behind AT&T.
General Electric Co. (GE) is forecasting adjusted earnings well below 30% of expectations, at $1.05-$1.10 a share, and cash flow estimates, which have disappointed since the 1st quarter, are down almost 50% from projections, reinforcing the fear that the conglomerate may have to cut part of its $8 billion dividend as well as curtail its stock buyback program.