Algonquin Power & Utilities (NYSE: AQN) stock plunged 51.7% in 2022, according to data provided by S&P Global Market Intelligence. If you look at its performance graph, it is evident the utility stock saw aggressive selling only in the latter half of the year, especially in the last quarter.

There's a reason behind this: Some of Algonquin's numbers and the things it said signal rough times ahead including a potential dividend cut, and that triggered panic-selling in the stock.

A crucial business update coming up on Jan. 12 could decide where Algonquin stock will head in 2023.

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Source Fool.com