Vestas Wind Systems (OMX: VWS) skyrocketed up by nearly 15% on Friday. The advance was attributed to numerous factors. Markets were whispering that shorts had started to cover and of course others then jumped the party for an apparent short squeeze. Plenty of rumours have been circling as earlier this week the company even had to deny rumours of its Executive team meeting behind the CEO's back.
News from the United States that president Barack Obama’s administration has flashed some positive signs for offshore wind power must have played a role as well. The bureau in charge of ocean energy management appears to be moving ahead with offshore wind lease auctions into mid-Atlantic Coast. This would go a long way toward easing the fears of a weak 2013 for the industry in the United States as a result of certain tax breaks that seem set to expire.
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