Over the course of the past week, First Hydrogen Corp (OTCMKTS:FHYDF) has seen its stock take a considerable beating as it ended up tanking by as much as 11% during the period. In this sort of a situation, it may be a good idea for investors to consider taking a closer look and figuring out if the fall could in fact be an opportunity.
Market Reaction
On Tuesday, FHYDF stock ended flat at $1.98 with 575 shares, compared to its average volume of 1.5K shares. The stock moved within a range of $1.9812 – 1.9812 after opening trade at $1.98.
First Hydrogen Corp Establishes First Hydrogen Energy to Build Green Hydrogen Production and Distribution
As it happens, the company was actually in the news yesterday after it announced that it had been successful in establishing a new business division named First Hydrogen Energy. The division is going to be involved with the company’s green energy initiatives.
First Hydrogen Energy is going to be involved in both producing as well as distributing green hydrogen. In this context, it is also necessary to point out that the company has also decided to hire leading executives from the industry in order to launch First Hydrogen Energy. Two non-executive directors, Peter Williams and Rob Campbell have already been inducted from INEOS and Ballard Power respectively. First Hydrogen Energy is currently looking to identify projects in the green energy space in several countries. It may be a good idea for investors to keep an eye on the developments.
Key Quote
“Hydrogen production and procurement is a First Hydrogen strategy that is both timely and important in today’s environment of worldwide energy needs as we transition away from traditional hydrocarbons to the zero-carbon economy,” said Nicholas Wrigley Chairman of First Hydrogen UK.
