PG&E Rout May be Hitting Hedge Funds After Raised Bets Before Fire

(Reuters) Prominent hedge funds, including Baupost Group and Viking Global Investors, may be bearing the brunt of utility PG&E Corp’s (PCG.N) tumbling share price after raising bets on the utility in the months ahead of the Camp Fire, California’s deadliest wildfire. PG&E said liabilities related to the wildfire ravaging northern California could exceed its recently renewed insurance cover if its equipment was found responsible for starting the Camp Fire.

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