Why Constellation Energy Stock Flopped on Friday
On Friday, one day after speculation swirled about Constellation Energy's (NASDAQ: CEG) settlement talks with the U.S. Department of Justice (DOJ), an agreement was reached between the two sides. However, many investors didn't consider it the best compromise, as they collectively sold the energy company's stock by more than 2%.
Those discussions concerned Constellation's $16 billion-plus deal to acquire peer company Calpine. The DOJ was concerned that the acquisition could stifle competition, hence the need for finding a middle ground.
Source Fool.com
