Why CA Fires Are Burning PG&E Shares To A Crisp Today??
PG&E Corporation (NYSE:PCG) shares are having one of their worst days in years, losing nearly 10% after it came to light that downed PG&E power lines may be responsible for starting one of the deadliest wildfires in California’s history.
The inferno, which started Sunday and has claimed the lives of at least 32 people, may have started due to power lines being knocked down during a windstorm on Sunday, when winds were gusting as high as 70 miles per hour. Those winds then exacerbated the issue by rapidly fanning the flames, which have consumed over 220,000 acres of California land since.
*I would think about buying PCG at $48.00, if rest of October price action stabilizes. That is what hurricanes, earthquakes, fires does, some people lose (which is saddest part) & other's win (with new building, buying stock at low prices) etc.. KEEP WATCHING for best time to buy this stock, if this of interest to you.
The inferno, which started Sunday and has claimed the lives of at least 32 people, may have started due to power lines being knocked down during a windstorm on Sunday, when winds were gusting as high as 70 miles per hour. Those winds then exacerbated the issue by rapidly fanning the flames, which have consumed over 220,000 acres of California land since.
*I would think about buying PCG at $48.00, if rest of October price action stabilizes. That is what hurricanes, earthquakes, fires does, some people lose (which is saddest part) & other's win (with new building, buying stock at low prices) etc.. KEEP WATCHING for best time to buy this stock, if this of interest to you.