PG&E Corporation (NYSE: PCG) is up in a massive way in the pre-market hours this morning, and for good reason.
Recently, a fire that destroyed a town in northern California led to fingers being pointed at PCG. The fear was that the company would be forced into bankruptcy by regulators as a result of the fire.
However, on a recent conference call, the California Public Utilities Commission joined, with members saying that they do not want PCG to go into bankruptcy.
As a result, the stock is rocketing. As is normally the case, our partners at Trade Ideas were the first to let us in on the gains. Currently (9:!8), PCG is trading at $25.92 per share after a gain of $8.18 per share or 46.11% so far today.
Read our full report on the story here!
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