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  "documentTitle": "Ballard Power Systems (BLDP)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2018-01-25 00:00:00",
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  "notes": "The slide highlights that 83% of the company's value is based on 'potential' new business, which the author argues is unjustified given the company's history.",
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      "text": "According to analyst Lake Street, 83% of Ballard’s value is “potential” new business. Ballard has been public since 1995 with countless failures to deliver profits. Investors should no longer be paying for potential, but rather tangible earnings and a sustainable business model",
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      "text": "Value Per Share: $6.00",
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      "text": "According to analyst Lake Street, 83% of Ballard's value is \"potential\" new business. Ballard has been public since 1995 with countless failures to deliver profits. Investors should no longer be paying for potential, but rather tangible earnings and a sustainable business model",
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      "text": "Source: Lake Street Capital Markets analysis",
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      "text": "Bull Market Economics: It's All About \"Potential\" Business",
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