The once huge company, General Electric (still valued around $100 Billion), continues to see its shares trade dramatically lower over the past days. The stock is down some 14% in a few sessions, and it is surprising to hear practically no noise around the recent share price movement.

Volumes have exploded over past days after the bearish note from JPM hit the street a few days ago. Markets seem mostly focused on the Fed, Emerging Markets, cannabis stocks and seems simply too distracted to even notice the GE implosion.

GE is approaching absolutely horrible levels, last seen back in 2009. At these levels it is pretty much uncharted levels we are seeing but do remember GE traded at $25 just a year ago and at $32 in early 2017. The once mighty GE was kicked out of the Dow Jones index a few months ago and price action lately is very poor.

JPM has a target price of $10. Let’s see if they are proved right sooner than most investors thought possible.

GE implied volatility spiking as price action to the downside has been accelerating.

Source: charts by Bloomberg