Hawaiian Electric utility company sees its stock price plunge 49% after devastating Maui fires

• Hawaiian Electric stock has plunged as much as 49% since the start of the devastating Maui fires.
• The fires broke out last week and killed at least 96 people in what has turned into the deadliest US wildfire in over a century.
• While no cause to the fire has yet been determined, suspicions are growing that Hawaiian Electric equipment may have played a role.

Shares of Hawaiian Electric plunged as much as 41% on Monday and are down 49% since the devastating Maui fires broke out last week.

The Honolulu-based utility company engages in the production, transmission, and distribution of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai and serves 95% of the state’s residents.