On Thursday, shares of PG&E (PCG - Free Report) , owner of Pacific Gas & Electric company, plunged well over 20%. PG&E’s week-to-date loss is now nearing 60%.
It said yesterday that its insurance wouldn’t be able to cover the cost if it’s found responsible for the Camp Fire in Northern California.
Its financial health would be severely impacted, and PG&E’s “financial condition, results of operations, liquidity, and cash flows” would take a big hit.
PG&E also said that it submitted an “electric incident report” to the California Public Utilities Commission on Nov. 8, the day the Camp Fire broke out.
At least 56 people have died in the fire. Hundreds remain missing. Over 8,700 homes have been destroyed, according to estimates.
The Camp Fire has engulfed about 138,000 acres of land and remains only 35% contained. It is the deadliest in the CA’s history.
In Southern California, the Woolsey Fire and Hill Fire are continuing to burn tens of thousands of acres.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
On Thursday, shares of PG&E (PCG - Free Report) , owner of Pacific Gas & Electric company, plunged well over 20%. PG&E’s week-to-date loss is now nearing 60%.
It said yesterday that its insurance wouldn’t be able to cover the cost if it’s found responsible for the Camp Fire in Northern California.
Its financial health would be severely impacted, and PG&E’s “financial condition, results of operations, liquidity, and cash flows” would take a big hit.
PG&E also said that it submitted an “electric incident report” to the California Public Utilities Commission on Nov. 8, the day the Camp Fire broke out.
At least 56 people have died in the fire. Hundreds remain missing. Over 8,700 homes have been destroyed, according to estimates.
The Camp Fire has engulfed about 138,000 acres of land and remains only 35% contained. It is the deadliest in the CA’s history.
In Southern California, the Woolsey Fire and Hill Fire are continuing to burn tens of thousands of acres.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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