Activist Investor Nelson Peltz Snaps Up $2.5 Billion Stake in GE

Activist investor Nelson Peltz has announced that his Trian Fund Management bought a $2.5 billion stake in General Electric (GE). The company now owns a 1 percent stake in GE and is a top ten shareholder. The Street’s Jim Cramer says it’s good news. 'Nelson Peltz is the only activist we could find when I wrote Get Rich Carefully, whom you beat the market with AFTER the announcement of his stake,' said Cramer. 'You beat the market if you buy it today,' he added. Stocks in GE have slipped around 24 percent in the last ten years but were up on the news. Cramer explained that he thinks Peltz will be able to help GE CEO Jeff Immelt turn the company around 'in a remarkable way.'