Wednesday Afternoon’s Notable Losers: Ballard Power Systems Inc. (USA) (BLDP), Enphase Energy Inc (ENPH), Vedanta Ltd (ADR) (VEDL)

Amid lower investor sentiment throughout all major sectors, the shares of Ballard Power Systems Inc. (USA) (NASDAQ:BLDP), Enphase Energy Inc (NASDAQ:ENPH), and Vedanta Ltd (ADR) (NYSE:VEDL) had particularly volatile trading sessions and slumping shares.  Enphase Energy Inc was the biggest loser among them, dropping a meaty 18.10% of its share value during the day’s session.

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Let’s start with Ballard Power Systems Inc. (USA) (NASDAQ:BLDP), the shares of which continued their downward movement, which was set in motion on July 1 after the company announced an underwritten offering of common shares. The fuel cell manufacturer offered 9.34 million common shares through an underwritten offering with gross proceeds of approximately $15 million, including an option to purchase 15% additional shares for the underwriters. Ballard Power Systems Inc. (USA) (NASDAQ:BLDP) is expecting net proceeds of $13.6 million from the offering after deducting operating expenses, underwriting expenses, and other discounts. The shares of the fuel cell company have declined 33.66% year-to-date, closing at $1.36 at the end of the day’s regular trading session. Jim Simons’ Renaissance Technologies is among the primary investors of the power company, owning 299,700 shares valued at $625,000.

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