Trump Win Brings Windfall for Funds Shorting the Energy Transition
Friday, 8 November 2024 () Hedge funds betting against transition-related stocks have made a combined $ 1.2 billion this week following the news that the next president of the United States will be Donald Trump. Citing data from Breakout Point, the Financial Times reported that the outcome of the U.S. vote prompted a stock price plunge across transition industries such as solar, wind, hydrogen, and EVs. The stock plunge affected both U.S. and European companies, with top wind turbine player Ørsted shedding 13% on Wednesday in Europe, and German sector player Nordez…
Friday, 8 November 2024 ()
