Why Shares of General Electric Got a Spark in October
Shares of General Electric (NYSE: GE) gained 19.1% in October, according to data provided by S&P Global Market Intelligence, thanks to the company's strong third-quarter earnings report. The company's long-suffering shareholders received reason to believe GE's turnaround is gaining traction, and that sent the shares higher.
GE shares have lost more than 80% of their value since the company's turn-of-the-century heyday as a combination of market-topping acquisitions and large debt pile has weighed on results. The company went through a series of false starts and CEO changes in an attempt to regain its footing, but it appears current head Larry Culp, on the job since late 2018, is beginning to get results.
Image source: General Electric.
Source Fool.com
