T1 Energy slides after Fuzzy Panda flags short position

T1 Energy

19/05/2026 14:41

** Shares of T1 Energy TE.N falls ~8% to $6.47 after Fuzzy Panda Research discloses a short position in the U.S. solar company

** T1 shifted from a failed battery SPAC to solar after buying a plant from China’s Trina Solar 688599.SS, with 99.9% of its Q1 sales coming from Trina rather than AI data center customers - Fuzzy Panda

** Says firm rushed to meet U.S. tax rules and shifted key Trina-owned intellectual property (IP) to a Singapore firm, Evervolt, to stay eligible for tax credits

** "T1 Energy is Not an AI solar play but is instead just another China Hustle" - Fuzzy Panda

** TE did not immediately respond to Reuters' request for comment

** Including session's move, TE up 2.5% YTD

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))