Ormat shares drop after short-seller Hindenburg attacks energy company

  • 3/1/2021
  • 00:00
  • 8
  • 0
  • 0
news-picture

(Reuters) - Short-seller Hindenburg Research said on Monday it has taken a short position in the shares of Ormat Technologies Inc, lobbing several accusations against the renewable energy company including “acts of international corruption.” The company’s shares fell more than 6% in pre-market trading after the report. Ormat could not be immediately reached for comment. Hindenburg claims that official corporate records provide “direct evidence tying Ormat to corruption with senior Guatemalan government officials.” Hindenburg has targeted a few startups over the past few months. In February, the firm took aim at Chamath Palihapitiya-backed Clover Health Investments Corp , sending the health insurance company’s shares down more than 10%. Last year, the short seller called out electric car maker Nikola Corp, alleging the company misled investors over its technology.

مشاركة :