Hedge Fund Lakewood Is Shorting One of Canada’s Top Stocks
- Lakewood Capital said Ballard is ‘consistently loss-making’
- Ballard’s shares have slumped 17% over four days this week
Shares of Vancouver-based hydrogen fuel cell maker, Ballard Power Systems have risen 139% this year.
Source: Bloomberg
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Ballard Power Systems Inc., the second-best performing stock in Canada this year, is a new short at Lakewood Capital, the firm said in its quarterly letter, calling it a “consistently loss-making and cash-burning Canadian company.”
Shares of the Vancouver-based hydrogen fuel cell maker have risen 139% this year amid burgeoning speculation that wide-scale adoption of hydrogen fuel cells may at long last be around the corner.