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| DON'T BUY | 3.790 | Charles Edwardes-Ker | Views the hydrogen economy as a long-term trend that may play out 20 years from now. Speculative. | 2008-07-09 | |
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| DON'T BUY | 4.200 | Hugh Cleland, CFA | Historically they’ve been in the hydrogen fuel cell area. Consider it a long, failed science experiment. Not looking at it. | 2008-03-31 | |
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| DON'T BUY | 4.580 | Peter Hodson | It is more interesting since they got rid of the auto side. They now have a product and have stopped the cash burn and there is a market for their product. The size of this remains to be determined but the green standard is not going to go away. Based on what they have done to date, he is not that impressed. Would rather wait for traction. | 2008-01-31 | |
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| DON'T BUY | 5.110 | Werner Muehelemann | Recently divested their automobile fuel cells research team. Now focusing on fuel cells for smaller applications such as industrial lifts or homes. Still no earnings. | 2008-01-09 | |
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| DON'T BUY | 4.670 | Robert Floyd | There are a couple of red flags. Change of management and that the company is living off grants. They are now trying to joint venture on forklift trucks. You rarely see meaningful revenues or meaningful earnings with this company. | 2007-10-12 | |
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| DON'T BUY | 6.150 | David Burrows | If you are looking in the alternate energy space, this one is not catching anyone's imagination. Has no near-term earning potential. | 2007-04-24 | |
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| DON'T BUY | 6.430 | Kenneth P. Norquay, CMT | A fallen angel. The market is going up and this is not doing anything. When the volume heats up and the stock starts to go up, that is the sign you are looking for. | 2007-04-17 | |
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| DON'T BUY | 6.350 | John Zechner | Never comfortable with this one. Valuation was always way ahead of the story. Not cost effective enough to use on it mass production basis. | 2007-04-02 | |
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| DON'T BUY | 7.690 | David Cockfield | Has never been a fan of alternative power. A concept stock. The stuff works great in the lab, but when you get it out into the field, they have a lot more problems. | 2007-02-23 | |
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| DON'T BUY | 11.080 | Robert McWhirter | Ranks well in his model because the earnings have become less negative. The longer term challenge is to end up making money. Not convinced there will be enough to help them with that. Expected to lose $0.94 in ‘05 and $0.69 in’06. | 2006-05-04 | |
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| DON'T BUY | 14.200 | Ron Meisels | Had a huge sell off from its 2000 high and eventually got down to its base building. The bigger the base, the bigger the target. Believes it has not made enough base building to support a huge move. Could reach $15, but there are better stocks around. | 2006-04-24 | |
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| DON'T BUY | 11.640 | Michael Sprung | Not sure what is driving the stock price higher. Has very good sponsorship and with energy prices where they are, they are very much in vogue at the moment. As a value investor, he wonders what you are buying for $11/12. Can’t see the prospect of any real earnings. | 2006-04-21 | |
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| DON'T BUY | 6.430 | Gavin Graham | A great concept stock, but it has not made any profits. Have gone into partnership for making small power stations into buildings. | 2006-01-31 | |
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| DON'T BUY | 5.470 | Norman Levine | A total speculation. You are betting on hydrogen being a source for automobiles and buses. Even if hydrogen is in, you have to bet that this company will be the leader. | 2006-01-25 | |
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| DON'T BUY | 5.640 | Michael Smedley | A bit of a struggle and wouldn't hold it. | 2005-11-18 | |
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| DON'T BUY | 6.540 | Robert Floyd | Doesn't like. Will be getting some grants from some auto companies. Spends a lot of money, but revenues are very light. | 2005-09-29 | |
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| DON'T BUY | 6.890 | Jean-Francois Tardif | Hasn't seen any alternative energy technology that he truly believes in and that makes economic sense. | 2005-09-21 | |
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| DON'T BUY | 7.250 | David Baskin | Doesn't think the hydrogen economy is happening any time soon. Too speculative. | 2005-09-19 | |
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| DON'T BUY | 6.230 | Jean-Francois Tardif | Doesn't believe in most alternative energy companies. A lot of the popularity in this sector is in hydrogen, but it takes more energy to produce than what you save in energy. | 2005-07-18 | |
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| TOP PICK | 6.170 | Pierre Bernard | With the oil price at $60 anything in alternative energy should have a lot of appeal. Has been around for quite a while, so not just a start up company. Good partners. Not a trading stock. Be prepared to have patience. | 2005-07-14 | |
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| DON'T BUY | 5.620 | Ron Meisels | Only had 2 years of base building after its big fall, so it is still below the 200 day moving average. | 2005-07-07 | |
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| DON'T BUY | 5.980 | David Driscoll | Have never had a core commercial viability. | 2005-06-28 | |
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| DON'T BUY | 6.060 | Jean-Francois Tardif | According to his research, hydrogen is not an alternative fuel because it requires more energy to produce it than the savings would be. | 2005-06-21 | |
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| DON'T BUY | 4.320 | Benj Gallander | Has been on his Watch List for about 1 1/2 years. Have been very good at burning money. A wonderful sector, but it costs in incredible amount of money to use the kind of system that Ballard wants. Leery. Have to have far more revenues before he is interested. | 2005-06-07 | |
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| DON'T BUY | 5.270 | Peter Hofstra | There should be opportunities in the energy sector through alternative sources. Fuel cells seem like a natural way to do it. Not sure the automobile is the best application for the fuel cell. Would want to see some predictability of free cash flow. | 2005-04-19 | |
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| BUY | 6.060 | Michael Smedley | At this price, you've got a wonderful opportunity on a highly speculative basis for the long term when we have to get rid of the gas guzzlers. | 2005-04-06 | |
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| HOLD | 7.210 | Michael Smedley | Interest is low, so now might be the time to buy, but he is not recommending it (unless you want to try to bottom fish). | 2005-03-09 | |
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| DON'T BUY | 6.950 | Norman Levine | This is a concept stock for the future that may or may not be the technology used. Finds it difficult to invest in stocks like this which have no revenues and you don't know if there will be future revenues or when they will be. | 2005-02-23 | |
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| WEAK BUY | 7.630 | Michael Smedley | Q: Good for a 7/8 year hold? A: Has a habit of springing back to life on any good news. Very speculative. | 2005-01-19 | |
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| DON'T BUY | 7.480 | David Baskin | Has a good technology. Not sure when it will be commercialized or when the company will make money. Speculative. | 2004-12-09 | |
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| DON'T BUY | 7.790 | Bill Carrigan | Long term chart shows a spike in '00 and then a long period of a drop. It continues to make new lows. | 2004-11-26 | |
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| DON'T BUY | 7.980 | Neil Wickham | Historically, probably a good entry point. His concern is the amount of time spent on their technology which has not been usable. Doubts if they have the long;term solution. | 2004-11-23 | |
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| DON'T BUY | 9.730 | Robert McWhirter | Earnings estimates are for a loss of $1.54 last year and $1.12 for '05. Product is not economically viable for the next 3/5 years. | 2004-10-08 | |
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| PAST TOP PICK | 8.070 | Larry Berman CFA, CMT, CTA | (A Top Pick May 31/04. Down 36%.) Had said that if it dropped through the base pattern, get out. It did. | 2004-09-20 | |
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| DON'T BUY | 9.340 | Brian Acker, CA | Wouldn't buy. | 2004-07-30 | |
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| DON'T BUY | 8.580 | Norman Levine | Does not like concept stocks. With these stocks, you can't tell who is going to be the winner. | 2004-07-19 | |
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| DON'T BUY | 12.450 | John Zechner | No earnings generation. Product will not be in large-scale commercial deployment for 4, 5, six years plus. | 2004-06-23 | |
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| DON'T BUY | 13.800 | Robert Floyd | Technically, the stock looks like it's ready to turn around. Balance sheet looks strong. Long on promise, short on delivering. As oil prices go up, the stock could rise. Treat as a trade. | 2004-06-01 | |
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| TOP PICK | 12.950 | Larry Berman CFA, CMT, CTA | Has a very interesting technical pattern. Bottomed around $12 twice this year. Chart shows a double bottom. Stock oversold. Has a good chance. Put a technical stop at around $10. | 2004-05-31 | |
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| DON'T BUY | 12.510 | Laura Wallace | Their product is not commercially viable yet. Earnings have been disappointing. Underperforming on both revenues and profits. Continuing to burn cash. Speculative. | 2004-05-19 | |
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| DON'T BUY | 12.480 | Norman Levine | It would be the type of stock you would buy and put it away for 10 years to see what happens. Too much speculation. | 2004-05-17 | |
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| DON'T BUY | 12.680 | Laura Wallace | Just reported earnings that were disappointing. No earnings in the foreseeable future. Cash/burn rate seems to be creeping up. Some management changes which could mean some turmoil. | 2004-05-10 | |
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| DON'T BUY | 14.130 | John Zechner | Still not comfortable buying alternative energy stocks. Interesting long-term story, but it's tough to handicap. | 2004-05-06 | |
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| DON'T BUY | 15.860 | David Cockfield | Need a long-term horizon. Treat as the trading stock. | 2004-04-26 | |
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| WEAK BUY | 15.560 | Ron Meisels | In the midst of a recovery rally, because of bargain-hunting. Probably not establishing a base at this point. Could have a little bit of higher movement. Not a long-term recommendation. | 2004-04-23 | |
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| WAIT | 12.800 | Michael Sprung | Concept stock. Very good sponsership. Not value. | 2004-03-30 | |
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| HOLD | 12.200 | Michael Smedley | A news driven stock. Still the major in the fuel cell industry. | 2004-03-23 | |
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| DON'T BUY | 12.770 | Ron Meisels | In a major downtrend. There is not yet any base building. | 2004-03-17 | |
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| HOLD | 13.360 | John Sinkins, CFA | There has been a management shakeup. Continuing to move towards the development of a fuel cell system. Not that bad devaluation at this time. | 2004-03-09 | |
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| DON'T BUY | 13.760 | Gavin Graham | If hydrogen cells work, this company will be a major player. Still racking up losses. Will be dead money for a while. | 2004-03-04 | |
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| WAIT | 15.860 | Michael Smedley | Could pick up a bit as it may have been used as a tax loss. Would wait to see if it dropped further. | 2004-01-05 | |
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| DON'T BUY | 15.160 | John Stephenson | A pure play in the fuel cell area. Strictly a news driven story. Not a fan. | 2003-12-23 | |
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| WEAK BUY | 14.330 | Larry Berman CFA, CMT, CTA | Has pulled back to another buying opportunity. Will be a higher risk. Speculative. | 2003-12-15 | |
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| DON'T BUY | 14.760 | David Driscoll | Doesn't see any future in it. The investment by the carmakers was just a token. Expects fuel-cell technology and the commercialization of it will come from Japan. | 2003-12-11 | |
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| DON'T BUY | 15.870 | Mike Weir | They have a lot of competition. Not seeing any earnings. The timeframe for fuel cells seems to have been pushed out further. | 2003-11-25 | |
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| WEAK BUY | 17.020 | Michael Smedley | Has gone into one of its quiet periods. Well run company. Speculative. | 2003-11-17 | |
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| DON'T BUY | 19.070 | John Zechner | You have to be a long-term thinker for alternative energy stocks. Too risky. | 2003-10-02 | |
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| DON'T BUY | 18.050 | Mike Weir | Its tough brain their product into commerciality.They do have a lot of cash.Very speculative. | 2003-08-19 | |
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| DON'T BUY | 17.900 | Andrew McCreath | A highly speculative investment.Probably 10 years away from good commercial application. | 2003-08-15 | |
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| DON'T BUY | 16.090 | John Zechner | Has trouble with the valuation.Its six or eight years away before it gets into the key automotive sector. | 2003-08-07 | |
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| PAST TOP PICK | 18.300 | Michael Smedley | (Was a top pick on Apr 11/03. Up 26%) Still likes. Great long term hold. | 2003-07-18 | |
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| DON'T BUY | 18.600 | Ted Macklin | Great technology, but expensive to bring it to commercial use. No visibility. Good management team. | 2003-07-03 | |
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| DON'T BUY | 18.000 | Glenn Paradis, BA, CFA | Very expensive. A concept stock. Will be a long time. | 2003-05-20 | |
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| TOP PICK | 14.530 | Michael Smedley | New products coming out well. | 2003-04-11 | |
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| TOP PICK | 13.990 | Michael Smedley | A long shot. Has a lot of cash. Also has revenues. | 2003-03-31 | |
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| DON'T BUY | 15.060 | David Baskin | Will take 10/15 years to make money. Speculative. | 2003-03-19 | |
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| DON'T BUY | 15.110 | Gavin Graham | Very volatile. | 2003-02-10 | |
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| DON'T BUY | 15.590 | Robert Floyd | Not a fan. Needs revenue. | 2003-02-07 | |
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| DON'T BUY | 16.000 | Rob Peets | Has a lot of financial support, but will take a long while. | 2003-01-28 | |
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| DON'T BUY | 14.900 | John Zechner | Not comfortable with the valuation. | 2003-01-21 | |
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| DON'T BUY | 18.350 | Mark Jackson, CFA | A concept stock and speculative. | 2003-01-07 | |
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| BUY | 18.360 | Michael Smedley | Price is interesting. Speculative. The most prominent company in fuel cell technology. | 2003-01-02 | |
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| DON'T BUY | 17.280 | Peter Brieger | Need a lot of patience. Speculative. | 2002-12-30 | |
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| DON'T BUY | 18.380 | Glenn MacNeill, P.Eng. | Will be a very long time befor there is any production. Will need more cash. | 2002-12-20 | |
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| DON'T BUY | 18.240 | Laura Wallace | Won't move for a while. No revenues, so a speculative stock. | 2002-12-19 | |
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| DON'T BUY | 19.250 | Brian Acker, CA | Not a fan because they have no earnings. | 2002-12-12 | |
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| DON'T BUY | 22.000 | Ted Macklin | Issuing more shares which is important for them. Won't be profitable for several years. Higher risk. | 2002-12-11 | |
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| DON'T BUY | 17.140 | Gordon Higgins, CA, MBA, CFA | Not producing at commercial rates. | 2002-10-30 | |
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| BUY | 16.400 | Pierre Bernard | Great technology and lots of cash. Interesting. Treat with caution by only having a small percentage in your portfolio. | 2002-10-29 | |
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| DON'T BUY | 15.060 | Brendan Kyne | Previously called as a short because it was a concept stock with no revenues. Have now covered their shorts, but not touching aty this point. | 2002-10-18 | |
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| DON'T BUY | 12.180 | Robert Floyd | No product, so sales are slim. | 2002-10-10 | |
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| DON'T BUY | 11.450 | Martin Hubbes, CFA | Too speculative in this environment. | 2002-10-09 | |
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| DON'T BUY | 15.730 | Ross Healy | Trading at twice its book value. Cheap. Balance sheet is weakening and no profitability. | 2002-09-26 | |
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| WEAK BUY | 16.640 | John McColl | Owns a little bit, just in case it takes off. Very speculative. | 2002-09-25 | |
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| DON'T BUY | 17.350 | John Zechner | Not comfortable with the alternative fuel sector. | 2002-09-19 | |
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| DON'T BUY | 17.350 | Mike Weir | Don't expect much in earnings for a while. | 2002-09-19 | |
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| DON'T BUY | 19.720 | John Stephenson | Commercialization of fuel cells is very difficult. | 2002-09-06 | |
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| DON'T BUY | 19.320 | Ted Macklin | A concept stock. Prefers more stable companies. | 2002-09-04 | |
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| DON'T BUY | 21.620 | John Sinkins, CFA | Has cash but may have to go for more next year. Will take years. Volatile. | 2002-08-14 | |
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| DON'T BUY | 22.680 | Jack Cook | Not a fan. They need to have a marketable product before he would consider. | 2002-08-12 | |
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| DON'T BUY | 18.600 | David Driscoll | Have to prove themselves. High burn rate. Could drop further. | 2002-07-30 | |
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| DON'T BUY | 30.960 | Ray Steele | Fuel cell companies have been weak. It will be years and years before there is any revenue. | 2002-06-04 | |
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| SHORT | 32.350 | Brendan Kyne | Overvalued. Could drop. | 2002-05-29 | |
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| DON'T BUY | 38.750 | Mike Weir | Well accepted technology, but has to get to the commercial stage. Wait. | 2002-05-15 | |
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| PAST TOP SHORT | 34.860 | Brendan Kyne | (Was a top pick on Dec 4 down 18%, i.e.18% up on a short) Remaining a SHORT. The NASDAQ will pull down concept stocks in this market. | 2002-05-10 | |
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| DON'T BUY | 34.450 | Scott Morrison | Volatile. Expects it could drop further. | 2002-05-03 | |
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| WEAK BUY | 37.780 | Gavin Graham | Losing money. Good backing and have lots of cash. Can't be valued until product is in use, 2/3 years. | 2002-05-01 | |
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| DON'T BUY | 40.800 | Jack Cook | Lots of cash. A development company, so will take time. | 2002-04-26 | |
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| WEAK BUY | 45.930 | Ted Macklin | A concept stock and will have turbulent times. Risky. | 2002-04-15 | |
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| DON'T BUY | 49.050 | Brian Acker, CA | No earnings. A concept stock. | 2002-03-12 | |
Experts that have talked about Ballard Power Systems