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More of an FYI Rick
This was placed four days ago so unlikely that it had much to do with todays drop.
AQR Capital .5%
To misquote the bard. There is a tide in the affairs of hydrogen, Which taken at the flood, leads on to fortune. Omitted, all the voyage of their life is bound in shallows and in miseries. On such a full sea are we now afloat. And we must take the current when it serves, or lose our ventures.
Just still hoping that they can hang in there long enough. They'll either get carried along with the wave and thrive and expand, or be submerged by it and disapear! Hopefully the former with some good Sales people on board with excelant sales commission packages.
We are pleased to announce James Collins as our new Head of Business Development.
In his previous roles at ITM leading Investor Relations and most recently Corporate Affairs, James has already been active in leading discussions with customers, investors, funding agencies and government stakeholders. As Head of Business Development, James will focus his experience on leading our customer engagement activities to accelerate the growth of our pipeline.
“I am excited to take on this role. ITM clearly has the best PEM technology in the market today and the opportunities for our growth are vast as the green hydrogen economy accelerates. Our products can now be sold and deployed into most regions around the world, and I look forward to driving customer engagement with ITM and making a contribution to our future success.” James Collins.
Until ITM get a steady postive cash flow from sales and shipping/installation this share will continue to follow the wind where it blows. Please don't be surprised by the movements. It is now a much better machine in terms of design, manufacture and support in the field but it lacks sales. It mainly lacks sails because the governments of the world are failing us.
So that sort of asks the question, what is Dennis doing about this and what can he do? I guess keep making strategic partnerships and then lean on those partnerships. What is sHell actually doing to up green hydrogen usage (basically nada apart from one tiny unit in Amsterdam)? What is Linde actually doing to up green hydrogen usage (basically nada apart from two trials)? What is SEMA actually doing to up green hydrogen usage (nada).
Over to you Dennis. What can you do to win a stream of orders?
I haven’t always considered the gasses associated with Baked Beans to be especially green………
Plentiful, certainly.
Starting to retrace now, from a high of 70p yesterday back down to nearly 60p, sometimes you are flogging a dead horse at the moment with shares.
Green Beans Means Heinz.
Fear
I remember when I was told in automotive that we should not fear the Japanese (in the 70s) and I watched them ruin the corporation I was in. Recently I was told another hi-tech UK business should nto fear the Chinese and ... guess what... I always fear the enemy especially one with a controlled economy, low costs, an import ban (cultural or by law) and great education. Doesn't mean we give in, but it does mean ITM has to up its game. In the short term some sales would be nice. Right now the Sp is balanced on fog and mirrors.
Https://www.telegraph.co.uk/business/2024/02/05/heinz-baked-beans-maker-hydrogen-factory-greener-gas/
No mention of ITM....but fingers crossed.
I thought electric was the future 🤷
Some very well argued rationale there Alpha especially with regards to perceived delays now working in our favour. One does get the impression that the next upwards moves should be sustainable but needs to have orders embedded within. Long term holder who has sold into last rise and been adding on the drop. Would have added more had funds allowed. Glah
Https://www.fuelcellchina.com/Industry_information_details/1073.html
The Chinese risk may not be quite as bad as some fear. They currently make mostly alkaline electrolysers- not in direct competition with ITM. Also there have been significant delays in their highest profile projects suggesting some ongoing issues with reliability etc. There have been articles like the above suggesting that they might not be as cheap as initially thought. Final defence is political USA won’t support Chinese products in their IRA, Europe may well go the same way and UK- who knows!
Mike- no dilution as far as I am aware since £4 placing. Cash position strong as a result of the cash placement.
Progress has been bumpy since then. Increased losses on support for prior deliveries, slow ramp up of production, losses greater than expected.
Since change if CEO we initially had a little bit of kitchen sinking ie get all the bad news out at once. Since then it appears steady execution of plan. Slower ramp up of orders and production has given ITM time to get things in order. The increased power supply to factory to allow FAT to be completed at reasonable scale a basic. Collaborations with Johnson Matthey and a couple of other companies notable. Some big orders in the pipeline 3x100MW but no final investment decisions made on these.
I would say looking a lot brighter than 1 year ago but need evidence of orders and delivery to de-risk this. Then we should be looking at £4 again. In ITMs defence they haven’t wasted as much money as plug power and are now razor focussed- even more so than NEL. The delay in FIDs over the last year may have been in ITMs favour. For me it’s a buy/hold at this level. Managed to top up a little at lower prices. Tempted to buy a few more.
DYOR
MikeC365, that must have hurt! But if you got back in at a low price, then you have a second chance. My play here is to hold, as hydrogen is a fuel of choice for the future. ITM is well-placed to be a leading player in the field. My main concern is competing with China, as they could are manufacturing electrolysers much cheaper. ITM seems to be very strategic in keeping their cards close to the chest about their technology and pricing strategies, so I hope this will be enough to steer investors away from cheaper Chinese alternatives. Then, once the global economy stabilises and interest rates are cut, we should see some great recovery here with some ITM orders being placed.
Bought these years ago at 45p and impatiently sold at 55p before the rise to £7..... hoping not to miss out this time, as hydrogen is the future.
Has there been any more dilution since the placing at £4 and are we in a better position now than when people thought this was worth £4 per share?
The 70p range will be nice place to end up this week. For now though it could easily go back down as people take their profits from the 45p lows (smart). We need news on large new orders, that will really boost the sentiment for ITM and push things closer to £1.
Pony - I agree but the longer you leave it and the higher the price moves your profit dwindles accordingly. Much like if you bought a share low, make a big profit and then the profit takers move in and you watch your profit disappear. But as you say, much depends on when they took out their position.
I could have worded that better (close not selling), and large shorts can close over time. Hope that helps.
Won't be for much longer.
This was a screaming buy on the interim results RNS to in my opinion, return to £1 in short order and probably higher.
As has been stated before, shorts don't necessarily close instantly, especially if they are still profitable. Depending upon when the short was taken up, there may not be pressure to close. Therefore, shorts will partially sell, which will result in upward pressure over time, rather than in one go.
This would be different to say a stock where the shorts are under water, where there would be more pressure to close quickly.
I wouldn’t worry about the whys or wherefores the fact is there is a short squeeze going on here. Enjoy the ride.
How can the short stock figure STILL be 3.71% after last few weeks of good trading positives ?