Shares of General Electric continued to drop Thursday, a day after the company announced plans to sell its jet-leasing business to rival AerCap and fold a substantially slimmed down GE Capital into its balance sheet.

GE stock was down more than 8% in midday trading Thursday after tumbling about 5% on Wednesday. Before the announcement, shares had rallied more than 120% in the past six months, hitting a fresh 52-week high as recently as this week.

The Boston-based conglomerate on Wednesday announced the deal to sell GE Capital Aviation Services, or Gecas, the largest remaining asset of the company's once-colossal finance arm GE Capital, to AerCap. GE said it will take a 46% stake in the combined company and the deal will generate about $24 billion in cash. Once the deal closes in nine to 12 months, GE plans to shift GE Capital's remaining debt and assets onto the company's industrial balance sheet.

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