Pacific Gas and Electric (NYSE:PCG)
Historical Stock Chart
1 Month : From Sep 2019 to Oct 2019
By Stephen Nakrosis
Shares of PG&E Corp. (PCG) are continuing to fall sharply in Wednesday's after-hours session, after a judge opened the door to a rival's chapter 11 plan for the embattled company.
PG&E is also dealing with the impact of having to cut power to around 800,000 businesses and households in Northern California as it tries to reduce the threat of wildfires.
At 6:43 p.m. ET, shares of PG&E had lost 29.42%, to trade at $7.75. Volume in the late session topped 2.9 million shares.
The company's shares had finished the day's regular trading session with a 0.73% gain, to close at $10.98.
Judge Dennis Montali of the U.S. Bankruptcy Court in San Francisco stripped PG&E of the sole right to propose a chapter 11 plan, clearing the way for a rival chapter 11 plan from Elliott Management and other bondholders.
--Write to Stephen Nakrosis at email@example.com
(END) Dow Jones Newswires
October 09, 2019 19:00 ET (23:00 GMT)
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