Member Info for chilting

ITM is a far more speculative share to hold than than Ceres.
Ceres has been frugal with capital spending - ITM just the opposite - if ITM slip up, they become a cheap takeover target.

The bottom could be as low as 1200 but I think that we will see strong buying when it gets below 1300.

andrbea
Today's fall is simply a readjustment - the SP went up too quickly to be sustainable - Ceres is a great company but when the market cap rises above what its worth in the real world then a fall is eventually inevitable.

Yes, quite agree Carrington - the tech stocks in the US were always going to come under pressure this week with their reporting season - also hydrogen bubble seems to have burst this morning.

Good buying opportunity ahead but it hasn't stopped falling yet.

A real test for the SP today but Ceres remains a strong long term hold whatever happens in the short term.

It looks like today will be a real test for holding the recent gains - the market could open around 1% down.

monkey
I am sure AB fully appreciates carbon capture and the financial benefits - I would speculate that Enquest Explorer could play a part in a future carbon capture project.

No indication of a new hook-up as yet - we are 9 days since the last hook-up - no weather problems forecast at all this week or next.

I am quite sure that Johnson will follow Biden's lead and take similar steps in the UK.

North Sea Oil is in a unique position, in that it can make a massive contribution to combatting climate change by the process of carbon capture in spent and existing oil fields. In fact using carbon capture enables more crude to be extracted from spent fields. It will be carbon capture that saves the industry.

Enquest's long established expertise at decommissioning puts it in a fantastic position to fully capitalise in this new industry. It has the power to transform the company and reenergise the SP.

Its interesting that M&S had an even better day and are now at a 10 month high - the Norwegian Sovereign Wealth Fund also upped their stake.
It seems that investors are linking the fortunes of the two companies in the world of online retailing - sentiment is building all the time fueled by potential.

Not just the rise today - but caped by The Norwegian Sovereign Wealth Fund upping their stake - the ultimate pension fund!

It could be the shorts reducing or hopefully cashing out that has partly been responsible for the rise today.

Gruffell
I wouldn't be to worried about Ceres - at least in the long term - its still a definite long term hold.
ITM looks like a strong sell - anything that disrupts orders to the new factory has to be bad news - even or maybe especially in the short term.

Sorry AquaeSulis I didn't see your post until after I posted.
Many investors seem oblivious to this news or don't understand the potential implications - rather worrying I think.
I don't Weichai will reduce their holding, they would be more likely to sell it to another player - maybe Bosch.

This is obviously a severe blow to ITM but Ceres have so many avenues to market for their steel fuel cells that although it is a setback it shouldn't have very serious implications. It could have implications for the Weichai project though, if Weichai share Scania's concerns.

https://www.rechargenews.com/transition/blow-to-clean-hydrogen-sector-as-major-truck-maker-rules-out-h2-for-long-distance-transport/2-1-951345

An inevitable pull back - taking the froth off the market.

and moving up in a very difficult trading day.

The big buy after hours could easily have been from earlier in the day and was just reported late, so it probably did influence the SP.

An interesting day - actually marginally more brought than sold according to LSE - I think that we can expect lots more volatility over the coming months but overall the SP will continue to make steady progress upwards - volatility is good either way - what we don't want to see is low volume.