Why Hawaiian Electric Industries (HE) Stock Is Moving
Portfolio Pulse from Henry Khederian
Hawaiian Electric Industries, Inc. (NYSE:HE) shares are trading lower by 5.4% following a response to a lawsuit filed by the County of Maui regarding the fires on August 8. The company's shares had gained on Monday after the response was released, but otherwise fell sharply last week after the lawsuit was filed. The company also suspended its dividend.
August 29, 2023 | 2:41 pm
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Hawaiian Electric's stock is trading lower following the company's response to a lawsuit. The company also suspended its dividend, which may have contributed to the stock's decline.
The lawsuit filed against Hawaiian Electric and the subsequent suspension of its dividend are likely causing investor uncertainty, leading to the stock's decline. The company's response to the lawsuit did not seem to alleviate these concerns, as the stock continued to trade lower.
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