False alarm at GE – buying opportunity for quick gain

Yesterday, after the report by the Medoff whistleblower on GE, the stock went down by 10%. Since then many people that I respect dismissed the report. Namely short seller John Hempton, or Stanley Drackenmiller. The GE CEO bought 2 mil USD in GE shares, after buying almost 3 miln USD earlier this week. I bought a position before market opened on 8/16/19 at 8.25. It is a short term bet, that the GE stock will come back where it was before the report