5 Best Hydrogen Fuel Cell Stocks to Buy Now

Chemicals giant Dow started investing in hydrogen projects way earlier than its competitors. The company reached a deal with GM in 2004 for a joint hydrogen energy project. In 2017, Praxair started a facility to recover hydrogen from Dow Chemical’s ethylene production facilities, and upgrade it into high-purity hydrogen by using a pressure swing adsorption process.

A total of 42 hedge funds tracked by Insider Monkey reported owning stakes in Dow as of the end of the third quarter. The total worth of these stakes is $512.46 million. Richard S. Pzena’s Pzena Investment Management owns 5,759,760 shares of the company, worth $270.99 million.

Here is what Evermore Global said about DOW and DD in its 2020 Q1 investor letter:

“With respect to Corteva, Dow and DuPont, COVID-19 related shutdowns that started in China painted an ominous picture for the global macro landscape, and we exited our positions in these three companies that comprised the former DowDupont (DWDP) beginning in February. Additionally, numerous channel checks we performed indicated that various supply chains were being disrupted and stressed, a poor sign for three companies that are very global in nature.

In retrospect, we remain generally happy with managements execution of many of the fundamental tenets of our original investment thesis in DWDP – the separations and spins were completed on time, the restructuring programs were well executed, and capital allocation across the three companies is much more streamlined and shareholder friendly today than in the past. Unfortunately, big picture issues that started with the U.S. – China trade war and remain today with the global collapse in macroeconomic activity has severely impacted each of the former DWDP companies. We will continue to remain close to each company and could reenter on or more of the aforementioned positions should an opportunity present itself.”