Source: China Communications and Finance

After Trump won the presidential election, renewable energy stocks were sold off this week, which was good news for investors shorting those stocks. Bloomberg calculated that the sharp drop in the stock price of renewable energy stocks meant a profit of $1.3 billion for short sellers based on a basket of renewable energy companies globally.

Trump has always been a supporter of traditional energy sources such as oil & gas. During this election period, Trump has repeatedly emphasized the expansion of oil & gas exploration and the cancellation of renewable energy policies. Consultancy firm Wood Mackenzie previously stated that a Trump victory would jeopardize the expected 1 trillion USD low-carbon energy investment in the USA, electric vehicle sales in the USA would decline, and wind energy, cecep solar energy, and energy storage projects would inevitably be delayed or stalled.

Data from s&p global market intelligence shows, $Plug Power (PLUG.US)$Please use your Futubull account to access the feature.$SolarEdge Technologies (SEDG.US)$N/A.$Bloom Energy (BE.US)$,$First Solar (FSLR.US)$and$Enphase Energy (ENPH.US)$ It is one of the most shorted renewable energy stocks. At the same time, the solar sector in the USA is one of the most shorted sectors in the entire market.

Additionally, data shows that in Europe, Solaria Energy y Medio Ambiente SA, Nordex SE, and Orsted A/S are the most shorted renewable energy stocks. According to Bloomberg's calculations, the decline in a basket of renewable energy stocks in Europe since Monday's close has resulted in short sellers gaining $0.44 billion in paper profits.

Editor / jayden