Ceres Power (LSE:CWR) has a price-to-sales (P/S) ratio of 33 and is yet to turn a profit. But this rather expensive valuation is reflective of the considerable potential of this clean energy stock. Ceres Power is developing fuel cell technology, and this is an area of immense potential as fuel cells could be used to power everything from cars to factories and even homes. NIO (NYSE:NIO) is a Chinese electric vehicle (EV) manufacturer. It has a P/S ratio of around six, making it considerably cheaper than its American peers — notably Lucid at 146. Despite my concerns, I’m backing NIO to succeed. I already own NIO shares but would buy more today . . .
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