According to Markets Insider, PG&E stocks have dropped 56% from the start of the year. The stocks took a noticeable dive the day the Camp Fire started, and PG&E announced they had electrical problems in the area. Markets Insider also estimates that the steep stock loss is equal to a $13 billion decrease in cash flow.
PG&E has not taken responsibility for the fire, and won’t until a full investigation has happened. The timeline for when the investigation will conclude is still foggy.
Although the town of Paradise in Northern California is basically gone, there are still many cities in the surrounding area and County that are without power. With the Thanksgiving Holiday coming up in just a few days, PG&E announced on their Newsroom site that they still have more than 2,000 personnel working around the clock to restore as much power as they can to the areas where power is needed after the fire took out hundreds of power lines.
