Shares of General Electric (GE) tumbled Friday following its earnings release amid continued worries about the company's turnaround, but one expert thinks the stock is cheap.

"It's still a $13 stock," said Kenny Polcari, a managing director with O'Neil Securities. "Do you want to put money in it while it's cheap and forget you ever had it? I think that's probably not the dumbest thing to do."

GE shares are down 25% since the start of the year.