Why Hawaiian Electric Stock Is Soaring Today?
Portfolio Pulse from Vandana Singh
Hawaiian Electric Industries Inc's (NYSE:HE) stock is soaring after the company released a detailed response to a lawsuit filed by the County of Maui regarding fires in August. The company's records confirm that no electricity flowed in its power lines near the fire's location when it ignited. The company's shares are up 36.5% at $13.19 during the premarket session.
August 28, 2023 | 11:41 am
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Hawaiian Electric's stock is up after the company responded to a lawsuit regarding fires in August. The company confirmed no electricity flowed in its power lines near the fire's location.
The company's detailed response to the lawsuit, which confirms that no electricity flowed in its power lines near the fire's location, has likely reassured investors and led to the stock price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100