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Well I have sold at£3 and tripled my stake so I am happy. I will still buy back in if it drops further.
Operastar, I think Toneman has covered the question very well. But the factory will have to earn it’s keep and will quickly have to fill its order pipeline with commercial contracts. Hydrogen stocks have seen a phenomenal rise since the summer as the Hydrogen debate gathers moment. This will only continue if the whole Hydrogen Economy maintains its momentum. Until we see this we cannot be certain that current market valuations remain.
I am though a LTH of ITM and will be with every step of the way. Enjoy the ride.
The fundamentals simply don't support a market cap of £1,458m.
It’s been strong since the start of the year, it’s Hydrogen. Only wish I’d kept my buy last week
It isn't falling back, though. :D Not just yet.
I sold some yesterday and took my profit out and left the original investment - there is no way that ITM can continue to rise like this - it must fall back any time now.
I was also wondering why SP keeps increasing - I want to add as well but it just keeps going up! (Which of course is great)!
If in doubt buy half what you planned to invest. Then if SP drops your loss is halved and if it rises you won't kick yourself for not buying.
I think your last words are correct that this could be the last day to buy under 300
I'm in same position addicknt, although I already have a position in ITM for the past month, and was waiting to increase it - I expected a retrace at many times over the past 3 weeks but it hasn't come yet. My thinking is that there are loads of new retail investors pushing the price up who may get spooked if it drops 10-15% and then will pull out and it may come back down further. I could obviously be wrong and this may be the last chance to get it below 300p and I'd be kicking myself for that.
Thank you for all your thoughts - it seems a fairly divided picture and I remain undecided.
For me the situation provides a conundrum: I have a certain amount of free cash and want to reinvest in the market. However, although I firmly believe in the long term future for ITM, at some stage there may be a retrace and although over the long term this wouldn't be a concern, it comes with an implied opportunity cost i.e I may be able to make a better short/medium term return elsewhere.
There's no easy answer, although I'm almost bound to get it wrong.
Anyway, thanks again, guys.
OK Thanks Monkey. .It just says subscribe but I guess there will be a free option when I go in. I will look tomorrow.
Exactly why I'm holding off to invest more now that the SP has grown so much recently. I imagine when sales start coming in and contracts add up, it will likely cause a rerate back to a more realistic figure based on those earnings, as it will have a more concrete support basis that way. Unless an astronomical contract comes in for them, that is. I may end up kicking myself for not topping up now, but this is some pretty crazy growth.
I am not sure that conventional wisdom will apply given the unique circumstances surrounding this situation. Tomorrow will be v. interesting.....
This appears to priced on a future where the factory needs to be producing a lot more product that we are currently producing. So people are looking to the future, each rise in sp means that the future has to be even better, and if it falls short then the price will fall, the fall will trigger more people selling and then it'll settle at something more supportable with the actual sales at that point, and grow as the sales and promise of sales grows.
operastar, regarding the Times/Sunday Times, I can recommend signing up for their two free articles per week. That's what I do and it's enough to catch up with the Ian Cowie column each week. Here's a link to this week's column (one with ITM) in case you want to try the free subscription method.
https://www.thetimes.co.uk/article/out-of-the-blue-how-my-stake-in-a-green-future-is-gaining-ground-fg7r3n3z6
OK Mucker 007. I'm Not very good on numbers. Could you elaborate? It seems to me there ARE orders but I suppose you mean not enough. Something to do with the earnings per share I believe.
The factory is indeed in its ‘fitout’ phase. As I understand it, completion Q4/20. Slight slippage down to Covid19. But it needs orders soon to justify the SP. Numbers do not stack up at moment!
Thanks Whatabout. Where was the announcement?
Building is complete and being fitted out as I understand. Last statement suggested completion in September
Just found the RNS 1964G 22nd July 2019 announcing the signing of the lease on the site. I am not clear if this includes any buildings to occupy.. It predicted build completion Q4 2019. So not so good ,but probably Covid has something to do with the slipage.
Hold on. What about :
RNS 8776J 16th April Green Hydrogen for Humberside, RNS 3948L 30th April Funding award to supply 8MW Electroliser, RNS 9779M 15th May Formation of ITM Motive and appointment of MD, RNS 7401N 22nd May H2oZ Bus project in Australia. All these in the last two months. These are all solid project news ,not media hype. I do not get the Times. Too expensive for me but maybe the media are just catching up . Is there a link to the article so I can read it? What I am more interested in is news of progress on the new factory build. I assume it has started. When up and running, this will be the game changer , transforming ITM from an R&D company to an A list production company.
That's a lot of afc shares you could buy, it's like the tech bubble a few years back! Get it right and you are made chap!
AFC once enquires turn to orders as undoubtably they will, until then I’ll keep picking up at a nice price, ITM It’s going to be interesting to see were the the price is end of play this week.
I didn't read The Sunday Times, but this isn't the first time that ITM has been featured in the newspapers in the last few months. It's quite often ITM are mentioned. Not that I'm complaining. :D