Chances are, however, today’s decline has to do with the success of its rival in fuel cells, Ballard Power Systems (NASDAQ:BLDP).
In contrast to the lack of news at Plug (aside from Seaport Global Acquisition‘s optimistic buy report on the stock yesterday), Ballard stock has been on a bit of a roll lately, and the company’s public relations office may be sucking all the oxygen (and investor attention) out of the room.
Over the past week or so, Ballard has announced:
- A big sale of 15 70-kilowatt FCmove fuel cell modules to Tata Motors to power the latter’s electric buses.
- A sale of two 200-kilowatt fuel cell modules to Siemens Mobility, designed to power the latter’s two-car Mireo Plus H passenger train on a trial run in Germany.
- The release of its second-quarter results on Friday, Aug. 6.
Ballard is on a roll, and if investors have only a limited supply of money to invest in the fuel cell sector, it could simply be that this week, they’re investing it in the stock that appears to have momentum — Ballard — leaving Plug Power in the lurch.
Is that the right decision? We’ll find out when Ballard reports, and we’ll see precisely how much better its business is doing than Plug’s.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.