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Why Westport Fuel Systems Stock Just Crashed 22%

Rich Smith, The Motley Fool
·2 min read
Why Westport Fuel Systems Stock Just Crashed 22%

Four days ago, news that Westport Fuel Systems (NASDAQ: WPRT) had won Chinese certification of a new "HPDI 2.0" natural gas engine technology sent the stock soaring nearly 39% in a single day. Four days later, Westport is giving a lot of those gains back after its Chinese subsidiary issued a "clarification statement" that last week's news may not be quite as good as it sounded. According to the statement from Weichai Westport, "although the [WP12HPDI] engine has obtained Certification from the Ministry of Ecology and Environment of the PRC, it may not be sold to the market according to the relevant Laws and Regulations of the People's Republic of China (PRC)."

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