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Campaigns / Spruce Point Capital → Ballard Power Systems
Spruce Point Capital vs. Ballard Power Systems

Ballard Power Systems · BLDP

1 deck published between 2018-01-25 and 2018-01-25 — 60 pages, 60 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2018-01-25 initial thesis

    2018 01 64e7aa1900fdab75b413cc47_bldp_research_thesis_1 25 2018

    60pp · full_deck

    Ballard's 167% 2017 rally rests on a fragile China fuel-cell story with weak partners and zero insider skin; expect a repeat of the Azure failure and 35-70% downside to $1.15-$2.50.