Two Maui residents look through the ashes of their family home after the wildfires this week.PATRICK T. FALLON/Getty ImagesHawaiian Electric stock has plunged as much as 49% since the start of the devastating Maui fires.The fires broke out last week and killed at least 96 people in what has turned into the deadliest US wildfire in over a century.While no cause to the fire has yet been determined, suspicions are growing that Hawaiian Electric equipment may have played a role.Shares of Hawaiian Electric plunged as much as 41% on Monday and are down 49% since the devastating Maui fires broke out last week.The Honolulu-based utility company engages in the production, transmission, and distribution of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai and serves 95% of the state's residents.The fast-spreading wildfire killed at least 96 people and destroyed or damaged thousands of buildings, making it the deadliest US wildfire in over a century.

BING NEWS:
  • Hawaiian Electric Shares Sink on $500M Stock Sale To Pay for Maui Fire Damages
    Mario Tama / Getty Images Hawaiian Electric ... stock to help pay for damages from the 2023 Maui wildfires. The power company is pricing the stock at $9.25, a $1.65 discount from Monday's closing ...
    09/24/2024 - 3:45 am | View Link
  • Hawaiian Electric shares drop after $250M stock offering plan
    Shares of Hawaiian Electric ... the parent company of the state’s largest utility said it plans to sell up to $250 million worth of shares to partly fund its portion of the Maui wildfire settlement.
    09/18/2024 - 1:00 pm | View Link
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