Hedge funds and investment banks apparently cannot agree on how to value NEL ASA. Recently, several hedge funds have gone short NEL ASA. Hedgies are pretty smart, no doubt. And yet, I am somewhat baffled. Here is why: 1) There is growing momentum behind hydrogen (see McKinsey study: https://hydrogencouncil.com/wp-content/uploads/2021/02/Hydrogen-Insights-2021-Report.pdf); 2) The NEL ASA company news flow is very positive; 3) Investment banks, such as Barclays, Morgan Stanley, RBC, and others are extremely bullish on NEL ASA. So, have hedge funds got it all wrong and could a short squeeze be imminent? Or have the ibanks overlooked something?
