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Should You Be Tempted To ‘Sell’ General Electric (GE) Stock

Antipodes Partners recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Antipodes Global Fund posted a return of -5.3% for the quarter, outperforming its benchmark, the MSCI AC World Net Index which returned -9.7% in the same quarter. You should check out Antipodes Partners top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash. There weren’t a lot of funds who could deliver these kinds of returns without shorting the market or using aggressive put options.

In the said letter, Antipodes Partners highlighted a few stocks and General Electric Co (NYSE:GE) is one of them. General Electric is an industrial company. Year-to-date, General Electric Co (NYSE:GE) stock lost 40% and on May 29th it had a closing price of $6.57. Here is what Antipodes Partners said:

"Industrials including Siemens, General Electric (GE) and Continental. All these companies have been penalised by perceived general economic sensitivity. GE was also impacted by concerns relating to the near-term hit to aerospace related earnings as airlines temporarily pull capacity in response to travel bans. Auto components company Continental was impacted by the hit to industry volumes. While investments in future-proofing the business (e.g. electronics, software) are an additional drag on near-term profits, they place Continental in a strong competitive position. This, along with a robust balance sheet, will enable the company to emerge from the current crisis as a survivor while others may not."

In Q1 2020, the number of bullish hedge fund positions on General Electric Co (NYSE:GE) stock decreased by about 3% from the previous quarter (see the chart here). Our calculations showed that General Electric Co (NYSE:GE) isn't among the 30 most popular stocks among hedge funds.

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