PG&E stock at lowest in 15 years amid bankruptcy plans
Shares of PG&E Corp. PCG, -47.51% hovered at their lowest in more than 15 years on Monday after news the utility is preparing to file for bankruptcy. The stock was down nearly 50% on the day and on track for the lowest close since October 2002. California’s largest utility is facing more than $30 billion in liabilities related to the state’s wildfires. Chief Executive Geisha Williams stepped down Sunday evening, with General Counsel John Simon made interim CEO. PG&E shares have lost 79% in the past 12 months.
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