Why Ballard Power Systems Shares Popped 20.6% Today
Shares of Ballard Power Systems (NASDAQ: BLDP) jumped as much as 20.6% in trading today on some good news from China. Shares settled slightly but were still up 14.2% at 11:30 a.m. EST.
China announced that it doesn't have plans to cut new energy vehicle subsidies in July of this year, the time of year it often cuts renewable energy subsidies. Last year, a cut to subsidies in July led to a drop in vehicle sales, so the government is giving some stability to the market by making this announcement now.
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Source Fool.com
