(Bloomberg) — 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.New York-based Lakewood is skeptical on the fuel cell industry and views fuel cell stacks as a “low value-add product that is relatively commoditized.” The firm added that Ballard generates just over $100 million …read more
Source:: Yahoo Finance
