Shares of bankrupt California power utility PG&E Corp extended losses on Monday ...
The Getty Fire burns near the Getty Center along the 405 freeway north of Los Angeles, California, U.S. October 28, 2019. REUTERS/ Gene Blevins
After a brief trading halt caused by its rapid fall, PG&E’s stock was down 16%, bringing its loss to nearly 50% since late Wednesday, when the Kincade Fire started in Sonoma County and rapidly became the worst blaze in California. While the cause of the Kincade Fire has not been determined, it appears to have erupted near the base of a damaged high-voltage transmission tower owned by PG&E, which is California’s largest investor-owned utility and serves the northern part of the state.
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