Market Overview

Why Fuel Cell Stocks Are Shooting Higher

Related BLDP
Plug Power's Dismal Earnings Drag Down Fuel Cell Sector
Jennings Capital Downgrades Ballard Power Systems

The fuel cell sector is still on fire after being reignited on Wednesday.

Ballard Power Systems (NASDAQ: BLDP) announced a $6 million deal with Chinese company, Telecom Backup Power Wednesday. Also announced was a deal with Azure to help assemble the final product.

More notable than the contract is affirmation that fuel cell companies may have immense growth opportunity in the back-up power business. Ballard CEO John Sheridan commented, “The Telecom Backup Power market is a key growth driver for our business and is also a significant opportunity in China given the scale of the market and China's growing focus on clean energy technology."

Adding to the rally were sector-wide comments from Jennings Capital.

The industry has far outperformed the market Wednesday and Thursday.

  • Ballard Power Systems is up 25.7 percent
  • Plug Power (NASDAQ: PLUG) is up 17.7 percent
  • FuelCell Energy (NASDAQ: FCEL) is up 5.96 percent

Posted-In: Fuel Cell Jennings Capital John ShericanNews Contracts Hot Trading Ideas

 

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