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Shares of PG & E Corp.
PCG, -28.50%
fell 22% to a seven-month low on Monday after a court ruling that the California public service will face a jury trial in front of a jury to find out if he's responsible for the damages caused by the Tubbs fire in 2017. The volume of transactions jumped to 8.1 million shares, compared to the daily average of about 6.5 million shares. The Wall Street Journal reported late Friday that, although California investigators concluded that PG & E equipment did not cause Tubbs fire, insurers 'and victims' lawyers said they could prove that was the case. In addition, a judge ruled that PG & E could control its own exit plan from bankruptcy. The stock has fallen 53% since the beginning of the year, while the SPDR Utilities Select Sector ETF
XLU, + 0.39%
has collected 16% and the S & P 500
SPX, + 1.14%
climbed 17%.
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