Ballard Power reverses sharply lower on heavy volume The catalyst for the sudden reversal in share price isn't clear at time of writing, but the shares are now lower by over 8.8% at $6.27. The stock had earlier hit highs of $8.38, a fresh 52-week high. The move down to $5.87 nearly erased the last two sessions of gains entirely before a small bounce in price. The $5.87 area is now support. Resistance is at $6.58.
Ballard Power signs multi-year fuel cell supply agreement with Plug Power Ballard Power Systems (BLDP) announced that it has signed a long term supply agreement with Plug Power (PLUG) to provide fuel cell stacks for use in GenDrive systems deployed in forklift trucks. The new supply agreement replaces an existing agreement and creates the opportunity for Ballard to remain in a leading supply position for fuel cell stacks in Plug Power's GenDrive systems. The new agreement is effective immediately and runs to the end of 2017, with the provision for two 1-year extensions.