The house that Thomas Edison built over a century ago, and that Jack Welch expanded into an empire, is officially no more.
General Electric — which was the most valuable public company in the world less than two decades ago — finalizes its split intoGE Vernova, the energy spinoff, will begin trading on the New York Stock Exchange this morning using the ticker symbol "GEV."
GE Aerospace is also launching as an independent company and will continue using the classic "GE" ticker.away from fossil fuels is one of the global economy's mega-trends. While oil and gas won't be supplanted anytime soon, GE Vernova's debut comes at a critical juncture for alternative and renewable energy.
A number of environmentally friendly domestic projects are riding the tailwinds of President Biden's signature climate legislation. "We believe GE Vernova is poised to preserve its leading position within a small oligopoly in the energy transition," It estimated GEV to be worth around $35 billion .back in February along with the aerospace unit; the move gives shareholders of record 1 GEV share for every 4 GE shares.Share on twitter
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