PG&E Stocks Struggle After Ca. Camp Fire

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PG&E may be to blame for the Northern California Camp Fire

Pacific Gas and Electric stocks have rebounded slightly Tuesday evening after taking a steep nosedive last week.

California’s largest utility provider suffered the stock blow after the company released a statement saying they had a problem with their transmission lines and substations in Butte County the day the deadly Camp Fire started in the small town of Paradise.

The Camp Fire began November 8th, and has since taken the lives of nearly 80 people, and decimated the entire town of Paradise. With all the devastation, and hundreds of people still missing, the State is looking for answers on how this fire started.

Although it isn’t completely clear yet how the fire started, PG&E has released two statements saying they had issues in the area the day the fire began, and are looking into the problem. According the Associated Press, multiple people are even suing Pacific Gas and Electric, already convinced they are to blame for the fire.

Market Insider Screen Shot of PG&E Stocks