PG&E Shares Plunge Once More, Falling Almost 50% in 5 Days

California utility company PG&E is watching its stock price continue to erode at a breathtaking pace Wednesday, with shares falling more than 20% Wednesday morning.

Since the start of trading on Nov. 8, share prices are off just shy of 50%, as the ongoing wildfires in California damage the company’s infrastructure, and it faces some reports indicating a malfunction in its transmission lines might have been the cause for the Camp Fire.

Wednesday’s drop comes after PG&E said if it is found...

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