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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells
BLDP 2.690-2.5%Jan 15 3:59 PM EST
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To: Mike Klobouk who wrote (806)7/16/1997 9:59:00 PM
From: Sid Turtlman   of 5827
 
Mike: The problem is that Ballard is a development stage company, that won't be seeing profits for many years (too many, IMO, but you all here don't mind.) Because the economy has been strong this year people are focusing on companies with excellent current earnings comparisons; they are not as excited about conceptual stories. Most biotech companies that don't have a product on the market at the moment are in the doldrums as well.

If you look back a few years, biotechs (and other development stories) were booming in 1991 and 1992, when the economy was still mired in a recession and earnings growth was hard to find. So the best thing that could happen to Ballard stock would be for a recession to kick in, hurting all those companies that are expected to earn money. This would probably be bad for the market in general, but good, relatively speaking, for all the money losing concept stories.
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