Pacific Gas & Electric shares rebound after hitting record low

NEW YORK (KGO) -- Pacific Gas and Electric shares rebounded a bit on Tuesday after falling to a new low the day before due to the recent fires in Northern California.

Shares rose 33.07 percent in trading at the New York Stock Exchange on Tuesday, closing at $5.03 a share.

The utilities stock has been hit hard in the last year.

One year ago, shares were trading at nearly $49. The price plummeted to just over $6 in mid-January following the company's announcement that it would file for bankruptcy.

Shares rebounded a bit by June, rising to almost $24, but they've been dropping ever since, hitting its record low of $3.80 yesterday.

For the latest stories about PG&E's Public Safety Power Shutoff go here.

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