Hawaiian Electric's stock dropped 35.2% in August due to financial concerns and bankruptcy risks.
Hawaiian Electric's stock plummeted 35.2% in August amid worries about its financial stability and potential bankruptcy. After an optimistic July, investor confidence waned following a quarterly report that revealed missed profit estimates and indicated bankruptcy risks. The company agreed to a $4 billion settlement for wildfire damages, with its liability at about $2 billion, while facing additional legal challenges from insurers seeking to recover losses.
September 07, 2024
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