One California bill just wiped billions off utility stocks, it removes a $6 billion wildfire cap.
One bill in Sacramento torched billions in utility market cap. PG&E fell as much as 21%, Edison 23%, its worst day since 2018. California's new wildfire bill updates response but leaves the liability sitting on the utilities, the one thing investors were begging to avoid. Three… pic.twitter.com/0uAx763bvq — Kurt S. Altrichter, CRPS® (@kurtsaltrichter) August 31, … Read more