News of Purchase Order Sending Stock Higher on a Gloomy Monday

By: Tomas Ronolski - AllPennyStocks.com News

Monday, November 4, 2024

Our stock sleuths put in some extra time trying to find an uptrending stock on this gloomy market day before the U.S. presidential election, and this company looking to provide fuel cell power to improve sustainability fits the bill.

Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced in a press release today that it has received a purchase order to supply 200 fuel cell engines to New Flyer, a subsidiary of NFI Group Inc. (TSX: NFI) (OTC: NFYEF), and a leading independent bus and coach manufacturer and leader in electric mass mobility solutions in North America and Europe.

The order marks the second in a long-term supply agreement announced in January of this year. The order of 200 fuel cell engines, representing approximately 20 MW of power, doubles the first purchase order of 100 engines under this agreement. Delivery of the 200 engines is planned for 2025 and will power New Flyer's next-generation Xcelsior CHARGE FC™ hydrogen fuel cell buses for deployment across the United States.

Dual-listed shares of both Ballard and NFI were bucking the overall negative market sentiment and trading higher at noon.

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