It was sensational what Ballard Power (NASDAQ:BLDP) stock achieved on Tuesday. The price of the stock was able to conquer the next multi-year high . This literally means 70% profit in a month.
So, investors are questioning themselves: Can we see another rally or is this the best time to take the profits?
If we look at the Plug Power stock price right now, which was $66.02 after closing bell on Tuesday, some investors may say how Ballard Power could double from here. Which is true. But if we take a look at PLUG market cap ($30B) and compare this to BLDP market cap (slightly less than $10B)…BLDP could triple from here. If PLUG was pushed all the way to $30B market on a couple of orders in such a short time frame, BLDP could do the same.
In the opinion of most analysts, the share will be driven by the circumstances in the USA as well as in Canada. Because in the USA Joe Biden now has the chance to strengthen climate protection through the next presidency. This in turn will mean that the hydrogen and fuel cell values will also receive orders.
With the help of the extraordinarily good newsflow PLUG stock has gained over 90 percent in one week. And following recent positive news from Ballard Power we saw a massive surge in BLDP shares, almost 20% higher price on Tuesday compared to Monday. Fuel cells are one of the fastest growing industries in the last couple of months. Just a year ago both PLUG and BLDP were small cap stocks, now they are filling the titles of Wall Street news sites.
Canada is also now investing more in the hydrogen industry, according to the government. That in turn ensures that the Canadian company Ballard Power is in the spotlight. The chances could hardly be better at the moment.
Technical analysis also sees rising prices coming. Because the 200-day MA as well as other trend signals have meanwhile been better than ever. This increases the chances of a further breakthrough from the analyst’s point of view.