OPENING BELL: Fuel Cell Stocks Volatile After GM Announcement
individualinvestor.com
By II Staff (6/12/01)
General Motors (NYSE: GM - Quotes, News, Boards), the world's largest manufacturer of automobiles, announced that it plans to make two separate announcements about fuel cells, one on Tuesday in Warren, MI, and a second on Wednesday in Washington, D.C. No further details were provided.
The announcement sent fuel cell stocks on a roller coaster ride in the after-hours session, particularly those with automobile drive-train aspirations. After trading as low as $49.50, Ballard Power (NASDAQ: BLDP - Quotes, News, Boards) recovered to $52.10, 53 cents off its regular-session close, and trading on FuelCell Energy (NASDAQ: FCEL - Quotes, News, Boards) was halted, after dropping as low as $72.50 from its $80.58 close.
On the other hand, Impco Technologies (NASDAQ: IMCO) ignited to $40.00 in the late session, after ending the day at $37.02, and Millennium Cell (NASDAQ: MCEL - Quotes, News, Boards) ticked up 10 cents, to $11.60.
General Motors' shares gained 8 cents after hours, to $59.22. |
