Recovery Act Investment - General Electric
The Recovery Act signed earlier this year intended to boost the economy and help many companies, from micro cap company like Beacon Power introduced yesterday to mega cap company like the Dow component General Electric (NYSE:GE). General Electric is already a potential winner from the nation-wide high speed rail deployment and on top of that it is also benefiting from The Recovery Act project.
One of The Recovery Act project that helps General Electric is the Dekalb County, Missouri's wind power deployment. The 150 megawatt Los Creek Wind Farm, developed by St Louis based Wind Capital Group, received a $107 million tax credit for renewable energy generation. Although General Electric did not receive the fund directly it does so indirectly as it supplied one hundred megawatt wind turbines for the project.
Shares of General Electric is currently on an uptrend and as the 20 day moving average is about to cross above 50 day moving average the stock should continue the uptrend. The stock is currently trading at $17.68, only $2 away from its 52 week high.
One of The Recovery Act project that helps General Electric is the Dekalb County, Missouri's wind power deployment. The 150 megawatt Los Creek Wind Farm, developed by St Louis based Wind Capital Group, received a $107 million tax credit for renewable energy generation. Although General Electric did not receive the fund directly it does so indirectly as it supplied one hundred megawatt wind turbines for the project.
Shares of General Electric is currently on an uptrend and as the 20 day moving average is about to cross above 50 day moving average the stock should continue the uptrend. The stock is currently trading at $17.68, only $2 away from its 52 week high.
posted by Stock Geek at
8:43 AM
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