What In The World Is Going On With Hawaiian Electric Industries (HE) Stock?
Portfolio Pulse from Henry Khederian
Hawaiian Electric Industries, Inc. (NYSE:HE) shares are trading lower by 7.6% amid wildfires in Hawaii. The company is facing scrutiny for not shutting off power to reduce fire risks. Despite being aware that a power shutdown would have been an effective preventive measure, the utility still needed to integrate this strategy into its fire mitigation protocols.
August 15, 2023 | 3:14 pm
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Hawaiian Electric Industries' stock is trading lower due to the company's handling of the wildfire situation in Hawaii. The company's decision not to shut off power despite knowing it could have been an effective preventive measure is negatively impacting its stock.
The company's stock is trading lower due to the negative publicity it is receiving for its handling of the wildfire situation. The decision not to shut off power, despite knowing it could have been an effective preventive measure, is seen as a failure in corporate responsibility and is negatively impacting investor sentiment.
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IMPORTANCE 80
RELEVANCE 100