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Short-selling institutions rake in 1.2 billion! Trump's return deals a heavy blow to green energy stocks, is the countdown to the demise of US offshore wind power?
①Trump's return to the White House led to the selling of renewable energy stocks, with Plug Power and Sunrun stock prices plummeting on Wednesday, while financial institutions profited over $1.2 billion. ②In May, Trump declared that if he wins the November election, he will end the United States' offshore wind power projects on the 'first day' in office and terminate subsidies prescribed by the Inflation Reduction Act.
At the time of Trump's victory, wind power stocks suffered heavy selling, with shorts profiting $1.3 billion.
According to Bloomberg's calculation based on a global basket of wind power companies' loaned stocks, the sharp drop in the stock prices of renewable energy stocks this time means short sellers have made a profit of 1.3 billion US dollars on paper.
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