Why Shares of General Electric Surged in October
Shares of General Electric (NYSE: GE) gained 11.6% in October, according to data provided by S&P Global Market Intelligence. The stock traded down over the first half of the month but got a jolt in October's final days after GE's third-quarter earnings report.
One-time highflier General Electric has been hard hit in recent years due to a series of ill-timed acquisitions and a debt-laden balance sheet, sending shares down about 60% over the past three years. Some investors had been bracing for worse after a prominent short-seller called GE "a bigger fraud than Enron" earlier this year, warning of potentially devastating surprises lurking on the company's balance sheet.
A General Electric GE9X engine in flight. Image source: General Electric.
Source Fool.com
