Why NRG Energy's Stock Is Plummeting This Week
While the S&P 500 has fallen about 2.7% this week, investors are feeling a lot less charged up about shares of NRG Energy (NYSE: NRG). The company announced a major acquisition on Tuesday, and it seems that investors aren't so enthusiastic about the news. And that's not all. Bears on Wall Street who revealed their pessimism for the stock this week also contributed to the sell-off.
As of 2:45 p.m. ET, shares of NRG Energy, a natural gas and electric utility, are down 20.9% since the end of last Friday's trading session, according to data from S&P Global Market Intelligence.
NRG Energy announced that it will acquire Vivint Smart Home (NYSE: VVNT) in a $2.8 billion all-cash transaction that is expected to close in the first quarter of 2023.
Source Fool.com
