Is Ballard Power Systems Stock a Buy?
Shares of fuel cell maker Ballard Power Systems (NASDAQ: BLDP) have surged 45% so far in January, after rising 225% in 2020. An extremely positive outlook for the promising technology is driving fuel cell stocks higher. Adding to the momentum is governmental support for advancing fuel cells. But despite widespread enthusiasm, it may not be a great idea to buy Ballard Power stock right now. Let's see why.
Ballard Power's operations go back more than 40 years, though it was listed in the U.S. 25 years ago. Since its U.S. listing, the fuel cell manufacturer has grown its revenue nearly 10-fold. Ballard Power's key focus markets are Europe, China, and California -- geographies that are leading the transition to cleaner energy sources. It has made good headway in each of these markets.
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Source Fool.com
