Nordex - a detailed update

All,

We have given our Nordex analysis a detailed update. Please click here.

Following the company’s recent guidance for the full year, there is little point in keeping our short open through the results. Moreover, due to the high balance of US orders in Q3 - and potentially Q4, it seems that the company has been sitting on a net cash position at year-end. 

So we are closing out at 96.5 with a view of re-entering the short in the run-up to Q1. 

Wolfgang