Ørsted Shares Plummet After U.S. Offshore Wind Project Halted
Shares in Ørsted tumbled to their lowest level on record on Monday as investor concerns about the world’s biggest offshore wind project developer grew following a stop-work order on a nearly completed project from the U.S. Administration. Ørsted (CPH: ORSTED) shares in Copenhagen plummeted by 18% early on Monday after trade opened, to a record low of $27.28 (174 Danish crowns). Ørsted’s stock has lost 46% year to date, with the biggest losses seen early this month when the company announced plans…