Why Hawaiian Electric Plunged 35.2% in August

July's optimism over a settlement gave way to more uncertainty in August.Shares of embattled utility Hawaiian Electric (HE -3.38%) fell 35.2% in August, according to data from S&P Global Market Intelligence.The electric utility was hit late last year by the tragic wildfires of August 2023, which mired the company in a legal mess. Early in the month Hawaiian Electric reached a payout settlement with plaintiffs, which seemed favorable for the utility. But a company filing raised the prospects of bankruptcy, a ...