Two decades ago, a burst in the dot-com bubble meant that shares of Ballard Power Systems may have been dead in the water. Now, it’s rebounding with a vengeance.
After a meteoric rise that saw the hydrogen fuel-cell company’s stock surge more than 400% between late 1999 and March 2000, it crashed almost immediately after, falling 88% over the next 18 months.
Fast-forward 20 years and the Burnaby, British Columbia-based company is one of the best-performing stocks in Canada this year with a gain of 117%. That’s not far off the 154% jump in shares of Shopify, a darling of the tech industry.