Why Constellation Energy Plunged Today
Shares of Constellation Energy (NASDAQ: CEG) fell 5.2% on Wednesday.
Constellation has been a hot stock over the past year, as it's the largest U.S.-based nuclear power provider; additionally, Constellation just closed its acquisition of Calpine, which was more concentrated in natural gas and geothermal power, turning the company into a true energy powerhouse.
However, shares fell today after the February Consumer Price Index (CPI) report showed a somewhat surprising month-over-month decline in electricity prices, even as long-term bond yields rose.
Source Fool.com
