Pacific Gas and Electric Company

Edison's stock price drop pegged to Southland wildfires

Edison's stock price drop pegged to Southland wildfires

As wildfires spread through the Southland this week, Southern California Edison’s parent company saw its stock price plummet on investors’ fears that the utility could be forced to pay costs related to the blazes.

Wall Street’s initial response to the area’s many fires, the first of which started late Sunday, was to chop as much as 16% from the price of Edison International’s shares; the Rosemead-based utility company’s stock hit a low of $67.80 a share Wednesday. The stock regained some ground to close Thursday at $71.77, but that price was still down 11% from Friday’s close.

Wall Street analysts said investors may be punishing Edison’s stock because of a decision last...

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