PG&E’s Big Settlement Excited Investors. Short Sellers Aren’t Impressed.

Jim Chanos says the company’s financial estimates are “ridiculous.”

Sam Hall/Bloomberg

Sam Hall/Bloomberg

Shares of bankrupt California utility PG&E got a boost this week when the power company reached historic settlements with insurers, investors, and victims of wildfires worth a grand total of $24.5 billion. But more hurdles await the company — including resistance from California Governor Gavin Newsom — before its wildfire-related woes are over.

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