Vestas shares hit 4+ year low

Vestas’ stock value hit a low not seen in over four years, with the company’s market value dropping by more than 40% in 2024. The decline is partly attributed to fears of competition from Chinese firms, which are expected to establish ‘local production’ in Europe, possibly with state support. This has raised concerns over unfair competition due to potential state subsidies. Vestas reported a positive turnover for 2023, reversing a 12 billion kroner loss to a half-billion profit, but had to lower its 2024 forecast, also affecting its stock value. According to Per Hansen, an investment economist at Nordnet, while present issues partially explain the downturn, they don’t entirely account for it.