GE’s stock falls as Jeff Immelt’s 64th and last quarter is another disappointment

Shares of General Electric Co. tumbled to the lowest close in nearly two years on Friday, as outgoing Chief Executive Jeff Immelt ended his reign of the industrial conglomerate with a downbeat outlook.

But Friday’s share weakness may come as little surprise to long-term investors. The company GE, -2.92% has lost about $170 billion in market value while Immelt has been in charge, according to FactSet data, which is more than the value of 14 of the current components of the Dow Jones Industrial Average. DJIA, -0.15%

Friday’s selloff marked the eighth-straight quarter the shares declined on the day results were reported.

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