Pimco Gets Burned as Just Energy Craters After Texas Loss
Bloomberg 2/22/2021 Simon Casey and Paula Sambo © Photographer: Matthew Busch/Bloomberg Pumpjacks operate in the snow in the Permian Basin in Midland, Texas, U.S, on Saturday, Feb. 13, 2021.
(Bloomberg) Canadian energy retailer Just Energy Group Inc. revealed a big loss from the Texas crisis and said it may have trouble continuing as a going concern after last week’s freezing weather cost it about $250 million.
Just Energy plunged 31% to $3.96 in New York. The decline hit big-name investors including Pacific Investment Management Co., the largest shareholder with a 28.9% stake acquired during a recapitalization last year. Great Pacific Capital Corp., an investment company controlled by Vancouver billionaire Jim Pattison, owns 1.5%, according to data compiled by Bloomberg.
Just Energy warns on future amid Texas deep freeze
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Canadian firm Just Energy warns of huge losses due to extreme Texas winter weather - Medicine Hat NewsMedicine Hat News
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