DNB Asset Management materially increased investments in EV maker Tesla (ticker: TSLA) and Plug Power (PLUG), a hydrogen fuel-cell technology company, while slashing its stake in General Motors (GM) in the fourth quarter. The unit of Norway's largest financial-services firm, DNB, disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.
Norway’s commitment to renewables is a very vocal and not least because it is such a large exporter of oil and gas. Nevertheless, one cannot argue with the timeliness of these purchases. Tesla lost 75% of its value in little more than a year. That’s a sufficiently large drop to encourage some value oriented interest.Click HERE to subscribe to Fuller Treacy Money Back to top