Baupost Group is Betting on PG&E Corporation (PCG) Stock
Baupost Group recently released its Q2 2020 Investor Letter, a copy of which you can download here. The fund posted strong gains for the quarter, a substantial but not quite complete rebound from the first quarter drop. You should check out Baupost Group’s top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.” data-reactid=”12″>Baupost Group recently released its Q2 2020 Investor Letter, a copy of which you can download here. The fund posted strong gains for the quarter, a substantial but not quite complete rebound from the first quarter drop. You should check out Baupost Group’s top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.
PCG) is one of them. PG&E Corp (NYSE:PCG) is a natural gas company. Year-to-date, PG&E Corp (NYSE:PCG) stock lost 17.3% and on August 19th it had a closing price of $9.23. Baupost Group cared to mention PG&E Corp (NYSE:PCG) in its investor letter, though they didn’t say why they really like the stock. All they said is this:” data-reactid=”13″>In the said letter, Baupost Group highlighted a few stocks and PG&E Corp (NYSE:PCG) is one of them. PG&E Corp (NYSE:PCG) is a natural gas company. Year-to-date, PG&E Corp (NYSE:PCG) stock lost 17.3% and on August 19th it had a closing price of $9.23. Baupost Group cared to mention PG&E Corp (NYSE:PCG) in its investor letter, though they didn’t say why they really like the stock. All they said is this:
“Fortunately, our investment in the subrogation claims and equity of Pacific Gas and Electric, the firm’s largest position, was not impacted by the COVID-19 fallout. As we expected, PG&E’s bankruptcy plan was confirmed by the judge overseeing the case, and the company emerged from bankruptcy on July 1st . Importantly, upon emergence, cash was placed in a trust for the benefit of the subrogation creditors. A substantial initial distribution from this trust, estimated to be roughly 80% of anticipated recoveries, is expected to be paid later this month.”
published an article revealing that Third Point is bullish about PG&E Corp (NYSE:PCG) stock. The investment firm believes that the company’s core business remains resilient to the COVID-19.” data-reactid=”31″>Earlier this month, we published an article revealing that Third Point is bullish about PG&E Corp (NYSE:PCG) stock. The investment firm believes that the company’s core business remains resilient to the COVID-19.
PCG) stock decreased by about 4% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t seem to agree with PG&E’s growth potential. Our calculations showed that PG&E Corp (NYSE:PCG) is ranked #28 among the 30 most popular stocks among hedge funds.” data-reactid=”32″>In Q1 2020, the number of bullish hedge fund positions on PG&E Corp (NYSE:PCG) stock decreased by about 4% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t seem to agree with PG&E’s growth potential. Our calculations showed that PG&E Corp (NYSE:PCG) is ranked #28 among the 30 most popular stocks among hedge funds.
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Insider Monkey.” data-reactid=”38″>Disclosure: None. This article is originally published at Insider Monkey.
