Why I spent some of my stimulus check on GE

Filed under: General Electric (GE), Coca-Cola (KO), Economic data, Stocks to Buy, Recession

I finally got around to investing a portion of my stimulus check. I had a few stocks in mind for the money, but at the end of the day, I decided that I should buy shares of a high-yielding blue chip for the very long term. It really wasn't a difficult decision. The winner of my stimulus-check buy was none other than General Electric (NYSE: GE).

I've been talking about GE a lot lately, but if you're an investor, you know there's a lot to talk about this conglomerate. No, I don't mean fundamentally, necessarily, I mean that its current yield is simply amazing. GE has dropped a lot this year, and it's gotten the attention of many value investors. In fact, I purchased some GE shares not too long ago when they were trading about six bucks higher than the current price for what I ho