My friends, how do you feel about companies that are hit by a major downturn due to the elements. Today I came across a potentially interesting company called Hawaiian Electric Industries
In short, a company that supplies power to the Hawaiian archipelago, which is mainly from renewable sources. This company has interesting ratios, especially P/E. For more, check out the company database here. 😊
The company has taken a huge fall in recent days due to the massive fires in Hawaii, which included several fatalities. A lawsuit has been created against them claiming that their power line poles are outdated, addressing whether they meet today's standards, also that they supposedly found areas of the power lines that were poorly insulated and could have started sparking or creating an electrical arc and from that could have caused the massive fires that Hawaii faced.
But now, according to recent reports, the company has pushed back on the allegations regarding the Maui fires and the stock has seen a pullback. The company said it believes the Maui County lawsuit is "factually and legally irresponsible."
Obviously this is something to watch, I just found this to be interesting news, an event that is not pleasant because it has claimed human victims, but if it turns out that the company is not responsible, this drop could be an interesting opportunity.
Do you also follow events like this and try to speculate on the events?
I probably wouldn't invest in such a company, but it's very interesting and I haven't heard of it yet.
Here it wasn't entirely the fault of the form per se, but since I can't see at first glance that the drop was accompanied by a really big volume, I'd better stay away.
Well, I'm rather intrigued by this! :) I'm thinking of trying to hop on and take a ride... after all, the company obviously has a huge tradition...