RE:bounce
Agreed. Globe says Ballard client Plug Power enjoys strong day 2014-01-03 08:17 ET - In the News The Globe and Mail reports in its Friday edition a renewed faith in the potential of fuel cells to power vehicles helped drive Plug Power Inc. shares ($2.33) to a 50-per-cent gain on Thursday (all figures U.S.). In a Globe special, Brenda Bouw writes Plug Power, which sells fuel cell systems for forklifts and other materials-handling vehicles, has nearly tripled its share price in the past month after racking up orders from such big-name companies as Wal-Mart and Procter & Gamble. The rise speaks to flickers of renewed optimism around the fuel cell industry, which enjoyed a huge run-up a decade ago only to suffer a spectacular crash. Plug Power had a market capitalization of nearly $8-billion during the dot-com boom. It sunk as low as 12 cents early in 2013. While many investors remain skeptical of fuel cells, Plug Power chief executive officer Andy Marsh says the gains of the past few months reflect an industry that is finally finding its way. Today, he argues fuel cells are becoming more accepted as a clean-energy product, while newer technology helps to lower their cost. Plug Power buys its fuel cell stacks from Ballard Power Systems and integrates them into products used in warehouses. Plug Power Inc (NASDAQ:PLUG) shares increased 50.32% to $2.33. The company on Jan. 2 announces it has met order targets set for the fourth quarter of 2013. Orders for the fourth quarter of 2013 totaled approximately $32 million, and includes contracts with Walmart, Kroger, Procter & Gamble, Bridgestone, BMW, Sysco, Ace Hardware, CVS, Mercedes Benz, Lowes, Stihl, and Coke.