General Electric has completed a significant transformation by spinning off GE Vernova and transitioning GE Aerospace into a standalone entity, marking a pivotal shift towards becoming a pure-play aerospace stock. This strategic move comes after two decades of turmoil that saw GE much smaller than its former self. The spinoff has led to the creation of newly independent publicly traded companies, with both GE Aerospace and GE Vernova celebrating their listing on the NYSE under the tickers $GE and $GEV, respectively. The restructuring aims to defy the poor track record of corporate breakups, with bullish investors hopeful about GE's future performance. CEO Larry Culp, who has been instrumental in GE's breakup, and GE Vernova CEO Scott Strazik have publicly discussed the company's transformation, emphasizing GE's mission to electrify and decarbonize the world. The spinoff has been valued at $191.9 billion, indicating a significant market expectation for both entities.
$GE Stock Did a Rollercoaster Ride This Morning stock went from "down in the dumps" to "flying high" faster than a jet engine! Seems the conglomerate split finally took flight, separating aerospace from healthcare & renewable energy @MXLESQ @jonnajarian discuss on Rebel's Edge 🏴☠️… https://t.co/Frh9rB9aDo
Will GE do better as three companies than as one?: How to dismantle an industrial icon https://t.co/C6DaMMteSI
.@GE_Aerospace is on a mission to "be the company who defines flight for today, tomorrow and the future." Congratulations to CEO Larry Culp and the entire #GEAerospace team on taking flight with NYSE: $GE. #WeAreGo https://t.co/0HjaBE8cBC