Want to Invest in PG&E? Stick to Bonds, Not Common Stock, Says Jim Cramer

Credit: The Street
Published on January 30, 2019 - Duration: 00:31s

Want to Invest in PG&E? Stick to Bonds, Not Common Stock, Says Jim Cramer

Pacific Gas & Electric Corp.

Filed for Chapter 11 bankruptcy protection Tuesday as the California utility seeks to manage liabilities related to the state's deadly wildfires that could reach as high as $30 billion.

TheStreet's Martin Baccardax reported on the bankruptcy.

PG&E, which owns the biggest power utility in the United States, filed the request in the U.S. Bankruptcy Court for the Northern District of California and is also seeking $5.5 billion in so-called 'debtor-in-possession' financing to fund its ongoing operations and safety initiatives.

Jim Cramer said that he thinks that investors should stick to bonds, not common if they want to invest in the company.

Follow us on Twitter @TheStreet; TheStreet: Investing Strategies on Youtube or check out our podcasts on SoundCloud at TheStreetLive.

Watch more videos on TheStreet's Youtube Channel ' Would you rather 'listen' to Jim Cramer?

Check out his new Podcast 'Cramer Live' on Soundcloud.

Watch Today's Show and All Cramer Replays Below


You are here

Recent related videos from verified sources

The Race to Zero: Why The Fed Will Cut, and Cut Again 01:20
Credit: The Street - Published 3 hours ago 

Large Cap Banks' Outlook Weakening on Flat Yield Curve: Goldman Sachs Analysts 01:38
Credit: The Street - Published 4 hours ago 

You might like