January 29, 2018 / 10:46 AM / 7 months ago

BUZZ-Ballard Power Systems: Comments on short-seller report

** Canadian fuel cell maker’s shares up 9.6 pct at $3.30 premarket after posting prelim FY17 revenue and responding to short-seller report

** BLDP expects to report FY17 revenue of $120 mln vs FY16 revenue of $85.3 mln

** Company says some statements upon which the short-seller bases its argument are “false”, while others amount to unduly negative speculation about the obvious risks of developing new tech in emerging markets

** BLDP closed down 13.7 pct on Thursday after Spruce Point Capital issued a strong sell opinion

** Co expects to report Q4, FY17 earnings report on March 1

** Stock rose 167 pct in 2017; down 32 pct so far this year (Reporting by Medha Singh in Bengaluru)

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