Hydrogenics Corp. (NASDAQ:HYGS) shares continue to rise following last week's announcement that a hydrogen fueling station that was opened by Shell Oil (NYSE:RDS.A) in
On Wednesday morning, shares in Hydrogenics were up almost 30% to C$2.37. Since June 13, when shares closed at C$0.79, the stock has risen everyday but one.
Paradigm Capital analyst J. Marvin Wolff said it is somewhat odd that the stock would be so active on week-old news, especially given the new Los Angeles fuelling station isn't the first hydrogen station that Hydrogenics has supplied.
You're seeing alternative fuel technology getting a lot of attention in California these days so maybe investors are simply just excited to include [Hydrogenics] in their portfolio. It's certainly strong buying for no new news out.