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However, the stock has lost 23.7% over the past six months and 14.1% over the past month to close yesterday’s trading session at $8.95.
PCG’s operating expenses for the second quarter (ended June 30, 2021) increased 7.8% year-over-year to $4.58 billion, driven by costs related to the amortization of wildfire insurance fund contributions, the investigation of remedies, reorganization under Chapter 11, and wildfire-related expenses. It also witnessed a decline in interest from the hedge funds. So, the stock’s prospects look bleak in the near term.
