BOUNCE

[griff100]

10:52 ET - PG&E(PCG) shares have risen 13% this week despite the utility filing for bankruptcy protection Tuesday. The counterintuitive rally boils down to one big investor bet: that the company's assets are worth more than the potentially massive liabilities. Regulators have already cleared PG&E(PCG) of responsibility for starting the 2017 Tubbs fire, something analysts say should bring down the estimated $30B in liability the company faces. And some investors are hoping the utility will get help from California lawmakers by being allowed to convert damages from the 2018 wildfires into bonds that consumers would pay off through higher utility bills. But tensions between lawmakers, shareholders, homeowners and regulators stand to complicate the utility's path toward solvency, many analysts say. ([e-mail]; @akaneotani)