Why PG&E, Switch, and Canopy Growth Slumped Today
The stock market had another up-and-down session on Wednesday, with the Dow Jones Industrial Average initially climbing more than 200 points only to fall to a 350-point decline before making up some of its lost ground. Major benchmarks were generally down slightly less than 1%, with investors pointing to uncertainties in Washington politics, the U.K. Brexit initiative, and the oil markets as potentially destabilizing factors. Some companies had particularly bad news that sent their stocks sharply lower. PG&E (NYSE: PCG), Switch (NYSE: SWCH), and Canopy Growth (NYSE: CGC) were among the worst performers on the day. Here's why they did so poorly.
PG&E heads for fire-sale prices
Shares of PG&E plunged another 22% as the California utility company continued to face concerns about its ability to pay for potential liability in the state's latest round of wildfires. PG&E had already seen big declines in previous sessions, but its latest comments indicated that it likely wouldn't have close to enough insurance coverage to handle any possible damage payments if the utility company's equipment is found to have caused the Camp fire in the northern California town of Paradise. With today's drop, PG&E shares have already lost almost half their value in less than a week, and even bondholders aren't certain about their likelihood of recovery in a worst-case scenario.
https://finance.yahoo.com/news/why-pg-e-switch-canopy-213200330.html
I noted a headline yesterday afternoon after the markets closed that stated there may be a shortage of natural gas this winter, a shortage of 17%. 
And gee whiz, PG&E lost over 20% of its value yesterday as well! 
Coincidence? I think not! 
!!
= new reply since forum marked as read
Will PG&E Have to File for Bankruptcy Protection?
The common shares of Pacific Gas & Electric [PCG] plunged nearly 22% to $25.59 on Wednesday and are now down 47% since November 8, when the “Camp Fire” began near the city of Paradise, Butte County, in Northern California.
This repeats and continues a scenario that commenced in the fall of 2017, with the wildfires that ravaged parts of the countries of Sonoma and Napa, north of San Francisco. At the time, the shares plunged from around $70 on October 11 to about $38 by February 8. Then they recovered some until the next fire hit (data via YCharts):
Seems PG&E doesn't have the $ to pay the claims that may result from the fire in Paradise.
I guess this monopoly may end up being broken up if this occurs.
Very distressing situation & if PG&E was at fault and they are not carrying enough liability insurance to pay off claims, down they will go.
Disgusting! 
for PG&E!!
