Hedge Funds Increase Green Stocks Short Selling
Bloomberg reports that short selling in green stocks has been increasing and is nearlyfour times the short selling in the S&P. In November, 17% of shares in the 35 stocks that make up the Wilderhill New Energy Index are soldshort, up from 16% last month and 15% in September. That compares withthe 4.4% short ratio of the stocks that make up the S&P.
Among the most heavily shorted stocks are Zoltek (ZOLT) andAmerican Superconductor (AMSC), both of which make components for windturbines. Wind energy capacity increased at the slowest rate in threeyears this year. The top three most heavily shorted green stocks areTesla Motors (TSLA) at 65%, First Solar (FSLR) at 25% and Sunpower(SPWRA) at 22%
A few traders highlighted the lack of international agreement onclimate change policies and the reduction in subsidies in many keymarkets, not to mention Republican control of the House here in the US. Republicans have said they will look to roll back rules limiting carbon venting, ease curbs on coal mining and block subsidies for cleanenergy. This is certainly one area where Obama has failed in a bigway. He was successful in ramming through other initiatives such ashealthcare, but green energy just hasn’t been as important as the hypewould have you believe.
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