Hedge funds are profiting after a series of well-timed bets against wind energy stocks, with some wagering there is further pain to come for the troubled sector.
Marshall Wace and quantitative trading firm Qube Research & Technologies are among those to have made millions of pounds in profits from sharp falls this year in the share prices of wind industry stocks such as Siemens Energy and ?rsted.
The short bets reflect a broader loss of enthusiasm for green energy stocks, despite huge tax credits and subsidies offered by governments to renewables companies in the US and Europe.
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