Fuel Cell Companies Offer Risks and Choices

Current market may offer selective buying opportunities, but chose wisely.

Published: 26-Dec-2001

By DAVID LUDLUM

Shares of fuel cell companies soared last year, posting triple-digit gains during the California energy crisis. This year, as energy supplies have rebounded, their prices have sunk as much as 95 percent from the highs.

"The valuations had gotten way ahead of themselves," said Richard A. Giesen, manager of Munder Power Plus fund, which invests in energy companies. Now, he says, prices are low for some stocks, and he is buying selectively. Some analysts agree with that outlook, at least for investors willing to take some risks with companies that may not be profitable for several years.

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