Is it a good time to invest in turnaround stocks?

I've been hearing a lot about turnaround stocks lately and I'm curious to get some opinions. For those of you who have dabbled in this area, do you think it's worth the risk? I know these stocks can be really volatile, but they also seem to have great potential for growth when a company turns things around.

I'm particularly interested in examples of stocks you’ve invested in that had a successful turnaround, or maybe some that didn't pan out the way you hoped. How do you usually evaluate whether a company is likely to make a comeback? Would love to hear your thoughts and experiences!