PG&E stock at lowest in 15 years amid bankruptcy plans

Shares of PG&E Corp. hovered at their lowest in more than 15 years on Monday after news the utility is preparing to file for bankruptcy. The stock was down nearly 50% on the day and on track for the lowest close since October 2002. California's largest utility is facing more than $30 billion in liabilities related to the state's wildfires. Chief Executive Geisha Williams stepped down Sunday evening, with General Counsel John Simon made interim CEO. PG&E shares have lost 79% in the past 12 months.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.