On September 9, Edison rose 5.06% in regular trading, trading at approximately $59.70 per share, with turnover of $219 million. The gain extends a recovery trend following the stock's historic single-day plunge of over 23% on August 31 — its steepest one-day drop since 2001 — triggered by California's SB 492 wildfire legislation.

The rebound comes as the market digests the impact of the revised SB 492 bill, which preserved wildfire victims' rights to sue utilities but failed to limit insurance subrogation, cap utility liabilities, or reform inverse condemnation — falling well short of investor expectations. BofA Securities noted that the legislation largely retains the existing framework, potentially pushing broader reform debates into 2027. Multiple analysts have since downgraded the stock, with BofA cutting its rating to Neutral and slashing its price target to $51 from $81, while Ladenburg Thalmann lowered its target to $50 and Mizuho reduced its target to $70.

Sector peer PG&E Corp rose approximately 3.96% on the same day, reflecting a broader recovery across California utility names following the sharp selloff.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)