Why Is Hawaiian Electric (HE) Stock Up 15% Today?

Core Viewpoint - Hawaiian Electric's stock is experiencing a significant increase due to reports that Maui County is preparing to offer settlements to those affected by the 2023 Maui fires [1][3]. Group 1: Settlement Details - Maui County is considering settlements for thousands affected by the fires, coinciding with lawsuits against the county progressing in court [3]. - Specific details regarding the settlements, such as the timeline for payments and the amounts involved, remain undisclosed, raising concerns about whether the settlements will be sufficient to prevent further lawsuits [3][4]. Group 2: Impact on Hawaiian Electric - Settlements could potentially shield Hawaiian Electric from prolonged and expensive legal battles, which is generating investor optimism and could mark a turning point in the company's recent challenges [5]. - As a result of this news, Hawaiian Electric's stock has risen by 14.7% with over 10 million shares traded, significantly surpassing its average daily trading volume of approximately 2.9 million shares [7].