Danish company Orsted’s stock fell 26.31% on Wednesday after a Halloween announcement that plans to abandon New Jersey offshore wind development projects. Orsted also announced a $4 billion impairment charge.
The responded accordingly.
Amazingly, the new stock price ($11.85 per share) at Wednesday’s market close is $4.23 lower than when trading began.
Orsted’s price peaked on January 8, 2021 at $74.60 shortly after the Election 2020 presidential result was accepted by Congress; it’s been all downhill since then, and the foreign-owned wind developer’s stock price is down a whopping 60.31% in just the past six months.
At least one elected official is demanding a probe of the Murphy Administration’s dealings with Orsted in the run-up to Tuesday’s bombshell news.
