PG&E stock at its lowest in 15 years on concern over California utility’s wildfire liability

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A home burns as the Camp Fire moves through the Paradise, Calif., area on Nov. 8.

PG&E Corp. shares on Thursday ended at their lowest in more than 15 years on growing concerns that the utility’s insurance may not cover the possible losses from the worst wildfire in California history.

Stock of the parent of Pacific Gas and Electric PCG, -30.68% with about 16 million customers in California, ended down 31% at $17.74 on Thursday, its lowest close since June 2003 and its largest one-day percentage loss since April 2001.

The company’s bonds also have tumbled this week, although they recovered a bit of ground on Thursday.

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