07-22-2020, 08:52 AM
(07-22-2020, 08:50 AM)divmenow Wrote: Wow FE getting spanked this morning down $7. Anyone own it or adding?
FirstEnergy (FE -6.6%) falls suddenly after Ohio House Speaker Larry Householder was arrested amid a $60M federal racketeering case related to the state's new nuclear bailout law.
The investigation centers on House Bill 6, the ratepayer bailout of two Ohio nuclear power plants owned by FirstEnergy Solutions - now Energy Harbor (OTCPK:ENGH -20.8%) - that Householder helped push through last year.
The campaign to pass HB6 and thwart a statewide referendum to overturn it included a wave of campaign donations from FirstEnergy and a multi-million-dollar ad campaign.