Siemens Energy Plunges
After the company’s announcement that problems at its wind turbine unit could last for years, Siemens Energy shares are gone with the wind. 😱
For background, Siemens Energy was created as a spinoff of German conglomerate Siemens AG’s former gas and power division. And it’s traded separately on exchanges abroad and in the U.S. as an American Depository Receipt (ADR) under ticker symbols $SMEGF and $SMNEY, which combined represent one Siemens ordinary share.