Shares of General Electric Co. (GE) continued their climb toward a six-year high Thursday, as they keep on pace to have their best year on record.
The stock rose 1.2% in morning trading, putting them on track for the highest close since Nov. 10, 2017, according to Dow Jones Market Data. The stock has now run up 10.3% since it reported third-quarter earnings that blew past expectations on Oct. 24. The stock has rocketed 80.0% year to date, which would be the best-ever yearly performance, based on available data back to January 1972, according to Dow Jones Market Data. The previous record yearly gain was 65.4% in 1982. The stock’s gains come as GE continues on its path to spinoff its Power and Renewable Energy business as GE Vernova in the second quarter of 2024, with the remaining company to be called GE Aerospace.