I Wouldn't Sell GE Vernova, Even After the Wind Business Fell 40%
GE Vernova's diversified approach is paying off for shareholders.
Overview
When the former General Electric conglomerate completed the spin-off of its energy business as GE Vernova (NYSE: GEV) in April 2024, its wind component accounted for nearly one-third of revenue. That business has continued to decline since then, but GE Vernova shareholders probably don't mind too much.
Wind orders decreased another 40% year over year in Q2, and the stock has dropped about 15% since that report on July 22. Some of that selling may have been profit-taking, as the stock is still up 40% this year. But I wouldn't sell GE Vernova stock based on that report, or even after that big gain. In fact, the company is very well positioned with its diversified business.
Image source: The Motley Fool.
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Originally published at www.fool.com.