Why Ballard Power, Bloom Energy, and Nikola Stocks All Dropped Today -- But Plug Didn't
Easy come, easy go.
Fuel cell stocks had a banner day yesterday as news of President Biden's $1 trillion infrastructure bill passing the House sent investors flocking to renewable energy names in hopes of benefiting from government largesse next year. But reality set in this morning when one of yesterday's strongest performers -- Ballard Power Systems (NASDAQ: BLDP), which specializes in fuel cells for buses -- reminded investors that, so far at least, fuel cell stocks remain incapable of earning a profit, by delivering an even-uglier-than-expected third-quarter earnings report.
Ballard stock is crashing in consequence -- down 10.5%. And now fellow fuel cell stocks Bloom Energy (NYSE: BE) and Nikola (NASDAQ: NKLA) are following Ballard down, falling 3% and 2.2%, respectively. (On the plus side, Plug Power (NASDAQ: PLUG) is hanging on by its fingernails with a 0.9% gain as of 11:10 a.m. EST.)
Source Fool.com
