Ballard’s shares have slumped for four straight days in Toronto trading, sliding 17 per cent so far this week, its longest losing streak since April. It’s still the No. 2 stock on the S&P/TSX Composite Index this year.
Earlier this month, the stock rallied to a 17-year high after it received a US$7.7-million order from China. The company’s technology currently powers over 650 electric buses and more than 2,200 electric trucks in China, Alfred Wong, managing director at Ballard, said in a statement then. “We have tracked Ballard Power for the past decade, and on five separate occasions, investors bid up the shares in a frenzy only to be left holding the bag months later when they came crashing down to earth,” Lakewood said.
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