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Tuesday, October 3, 2023

Is Sunhydrogen Inc (OTCMKTS:HYSR) Running Out of Fuel?

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‘Over the course of the past half a decade or so, the hydrogen fuel space has grown at an impressive pace and especially so in recent years.

Nowadays it’s in focus due to increasing willingness with regards to a shift to clean energy. This brings us to the subject of hydrogen fuel company Sunhydrogen Inc (OTCMKTS:HYSR), which has seen its stock make impressive gains recently.

Recent Developments

So far This week, Sunhydrogen Inc (OTCMKTS:HYSR) soared by as much as 65% on the back of robust volumes and it remains to be seen if the stock can continue to add to its gains through the rest of the week.

The stock has been in the dumps for many years but it seems that the company is now in the right industry at just the right time.

Hydrogen fuel and associated technologies have grown in popularity in recent years. As a result, more and more industries are looking to use hydrogen fuel instead of traditional sources of energy.

This could have been the major trigger behind the current rally in the stock. On the other hand, it is necessary to mention that big-ticket banks like Goldman Sachs also seem to be bullish about the prospects of the sector. Recently, the financial magazine Barron’s reported that Goldman Sachs is bullish about the hydrogen fuel technology sector.

The company reports to the OTCQB and as per its most recent filing, it has a cash balance to the tune of $500,000. More importantly, the Sunhydrogen stock has a history of making major moves, and hence, it could be wise on the part of investors to keep an eye on the price action over the coming days.

Back in 2014, the stock had gone a strong rally and managed to hit historic highs. Hence, the conditions are forming which could make the Sunhydrogen stock a point of focus for many investors in the near term.

Disclaimer: We hold no position in HYSR stock.

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