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Why Algonquin Power & Utilities Stock Plunged 31.7% in November

Why Algonquin Power & Utilities Stock Plunged 31.7% in November

Shares of Algonquin Power & Utilities (NYSE: AQN) crashed 31.7% in November, according to data provided by S&P Global Market Intelligence. It turned out to be the worst month for the utility stock in 2022 so far, with Algonquin shares now tumbling a whopping 49% year to date as of this writing. Utility stocks typically carry large amounts of debt and have, therefore, taken a beating this year amid rising interest rates.