Hedge Funds Shorting Renewable Energy Stocks
12/03/2010
SustainableBusiness.com News
As government support for cleantech falters, hedge funds have increased short selling of renewable energy stocks to the highest level in a year, according to a Bloomberg story.
Managers increased bets against firms like First Solar (Nasdaq: FSLR) and Tesla Motors (Nasdaq: TSLA) in the lead up to the UN climate change conference in Cancun.
17% of the U.S. shares in the WilderHill New Energy Index are sold short, a level almost four times higher than short sales within the S&P 500 index.
Read the full article at the link below.
Website: www.bloomberg.com/news/2010-12-01/hedge-funds-short-clean-power-as-goldman-reduces-superconductor.html