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FTSE 100 down 1.7% today as well. Well an truly the Covid-19 effect as it continues to drag down the market in general.
Don't forget what happened with ITM last March , and then look at the weeks and months after.
A temporary blip. I keep looking at the market cap of Plug power and thinking when ITM will be at the £ 19 billion mark, certainly inside two years is not unrealistic IMHO.
Totally agree Thirskwomble.
Back over 600p today or tomorrow and back to normal next week.
Exactly the same happened at the end of year results but ITM have more cash now and a better looking future so the recovery from today's low will be quick.
Took a punt on some more at 546p.
I think things will look a bit better by the end of the day once the full report has sunk in.
If the loss was 12.5 million on very little turnover then the next 12 months will be a turnround based on current contracts secured and the pipeline.
All is good , the panic sellers will regret pushing the sell button , probably a lot of automatic sells as well through people not adjusting stop losses.
Looking forward to the presentation this afternoon.
Agree on both points Toneman.
Holding on to some of last year's profits to take advantage of the correction when it comes, sometime around when it becomes apparent that the vacinnes are not all they are cracked up to be be.
Have always had it in my mind that there has never been a successful vaccine for any Coronavirus.
As long term readers of the board know I always keep my feet firmly on the ground.
ITM back in June enabled me to diversify greatly as the growth had made it top heavy in my portfolio, so with some of my profits cashed in back then heading into the likes of Plug, AFC and Powerhouse not long after, for me it was a good decision and my Hydrogen portfolio is a lot more balanced now.
Another diversification back then was Johnson Matthey , I like the fact they were established , income producing by way of profit and dividend distribution and heavily into Hydrogen.
We have to remember with competition like this around amongst a few other companies it's going to be a very competitive market so ITM has to get the pricing right.
Anyway , and interesting read showing the scale of the competition.
I haven't let it worry me yet having bought another tranche of ITM today off the back of The Bank Of America upgrade, but as ever I will keep a close eye on what is going on around us and keep my options fluid.
https://www.prnewswire.com/news-releases/johnson-matthey-announces-manufacturing-capacity-for-key-components-in-green-hydrogen-301211121.html
Great read concerning Hydrogen adoption in Abu Dhabi.....
https://oilprice.com/Alternative-Energy/Fuel-Cells/UAE-Oil-Major-Turns-To-Hydrogen.html
This chap is worth a listen.
I like both Plug & ITM, but I disagree with him that Plug possibly has a better future.
The figures in the latest trading update for ITM we know are not going to look good , but I feel certain we are potentially going to hear about a lot in the bag since October 2020, we already know that their is a 28 MW order in the bag which will more than double the turnover from the whole of the 2020 year end.
The current market cap of Plug is ranging between £ 15 to £ 19 billion with its market swings.
With its 1 GW factory now complete there is no reason with partners in board such as Linde and Snam that inside the next 12 months ITM should not have a market cap the same size as Plug.
ITM now have the potential to be a contender for the FTSE 100 inside the next 12 months all being well.
I am going to top up before the trading update as 1000p is not out of the question by then.
What a difference a few months can make.
Good luck everyone .
https://youtu.be/vhi4r8KSxyo
Yes SaleSale I am in VLS and agree a long term hold.
My complete Hydrogen associated portfolio ......
ITM ( UK )
POWERHOUSE ( UK )
AFC Energy ( UK )
McPHY Energy ( FRANCE )
NEL ( NORWAY )
PLUG ( USA )
BALLARD ( CANADA )
CERES POWER HOLDINGS ( UK )
HEXAGON COMPOSITES ( NORWAY )
VELOCYS ( UK )
CUMMINS INC
JOHNSON MATTHEY ( UK )
HYUNDAI ( JAPAN)
NIKOLA ( USA )
Very happy with the 12 month performance and global spread.
Another problem that others must have here dictated by the market.
When I first invested in the Hydrogen shares of ITM, Ballard and Plug some 6 years ago , it was an out and out punt based on a good gut feeling based upon my research back then.
So I invested no more than 5% of my total investment in these shares which seemed sensible.
Wind forward 6 years to June 2020 and those shares alone had advanced to 80% of my portfolio , there was quite a bit of general uncertainty about and we are not fully out of the woods. That was one of the drivers of selling off some and keeping some cash back and taking a few shares in other sectors to create balance again.
Here I am six months later and am having the same problem again, the growth has unbalanced the portfolio and is now over where I feel comfortable in one sector.
My gut feeling tells me to let it run.
Who else has the same problem ?
Toneman......as I have always said you have to keep your views fluid in investment..
When I posted caution it wasn't without valid reason.
Things have moved on since then , the biggest one being Biden in the hot seat in the USA.
That is a major game changer as we will see over the next 4 years.
I very much doubt we will see 100 - 175p now based on what is unfolding now just to put that one to bed.
Was looking at where my Hydrogen shares had gone over the past few months and my main concern now is the future tax bill on my SIPP as it will likely surpass the invetment cap inside the next 12 months at this rate.
I guess that is not a bad problem to have .
PMSL Builder Pete .......
After seeing my SIPP and ISA's bottom lines looking like a pinball machine of late, I spent a day of deep research yesterday and came to the conclusion looking at my Plug Power shares that with the finance ITM has in place now their is no reason this year it can't reach a similar market cap of circa £ 19 billion with its involvement with Linde and Snam.
That could even be conservative.
I suspect there will be other major gas companies wanting a share of ITM to.
So yes , 3200p by year end is more than possible.
What a difference 6 months can make.
Wait until Joe Biden gets in office and starts spending some of the $ 2 Trillion he is ear marking for green energy.
We haven't seen anything yet.
We are easily looking at £ 20 billion market cap for ITM once the Linde and Snam orders start piling in, potentially by the end of this year which means circa £ 32.00 a share and if you think that is unrealistic take a look at Plug Power over the last 12 months.
Then there are other third parties who will need the product such as Engie and the like.
Hydrogen companies are still on the runway , they haven't even taken off yet.
Fossil fuels are going to be dead in the water now Hydrogen is not only getting lots of major private investors but governments around the world jumping on board in a major way .
We haven't even talked about the global potential ITM Motive yet as the Fuel Cell vehicles take off. That is going to potentially provide billions of steady income in the future.
Fill your boots JoeKenny 10 years down the line ITM could well be a £ 100 billion market cap company with a lot of multi millionaire shareholders.
Interesting to note that Dr Duncan Yelland of ITM Motive has previous links with Engie as detailed in the article below ........
https://www.business-live.co.uk/manufacturing/toyota-hyundai-praise-hydrogen-refuelling-18255011
Why the world needs Green Hydrogen..........
https://blogs.ei.columbia.edu/2021/01/07/need-green-hydrogen/
An interesting read . French project has a requirement for a 40 MW Electrolyzer .
Can't be many companies about that would have the manufacturing ability for this .
Maybe something ITM will be involved with ?
https://www.energyvoice.com/renewables-energy-transition/hydrogen/europe-hydrogen/291031/total-engie-france-hydrogen/
Looking at the market cap of Plug Power at £ 19 billion , there is no reason why if the ITM Order book continues in the same vain as today then it could hit the same market cap this year.
Result would be circa £ 32.00 per share
Based on where the SP was in October 2019 at circa 50p who would have thought a circa 12 fold increase since then to where we are today , so my 2021 prediction is a conservative 3200p by year end.
Place your bets .
Satellite Pro- snap regarding the best week ever . Can this keep going.
Plug up 91% in just over the week.
My portfolio keeps swinging heavily to much towards Hydrogen with these major swings .
I don't think we have seen the end of it yet now Biden is ready to rock 'n' roll with a green future.
The next 4 years are going to be exciting and profitable.
The next question is when will we see some dividends , maybe in 5 years time that is a reality.