Cramer: It's tough dealing with GE

|About: General Electric Company (GE)|By:, SA News Editor

It's "one of the toughest stocks I've ever had to deal with," Jim Cramer told TheStreet, cutting General Electric's (NYSE:GE) rating to a "Two" from a previous "One" on a three-point scale.

"The reason why [holding] GE has been a mistake, is that we keep finding that the hand Jeff Immelt gave Mr. Flannery is so flawed, that Flannery can cut costs and cut costs, but the nuance here is that the dividend here remains a priority, that's different than the dividend is inviolate."

"The reason why the stock is going down is because it does appears to be a value trap. We're going to hold on to it, taking the long term view that Flannery will do a good job, but it was a mistake to hold on to it from where have."

GE +0.4% premarket

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