GE Stock Soars 11% As the Turnaround Gains Momentum

General Electric (NYSE: GE) stock has experienced extreme volatility over the past year, as investors have struggled to understand the company's chances of turning itself around. On one hand, new CEO Larry Culp has provided a steady hand and motivated his subordinates to deliver better execution. On the other hand, many parts of GE's power and renewables segments are struggling, the company continues to carry a heavy debt load, and some investors are worried about the potential for significant additional losses at GE Capital.

In recent months, the bears have been winning the debate, as GE stock has slipped far below its 52-week high of around $11. However, General Electric made solid progress on its turnaround last quarter. This caused the stock to jump 11% on Wednesday, surpassing the $10 mark for the first time in nearly three months. Even after this big gain, GE stock has plenty of upside, as long as the company doesn't face any major setbacks in 2020.