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.
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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