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Have a history of this, but with the placing, hard not to draw parallels with ITM, who used to do the same (okay not with such short notice and so big), but as an ITM shareholder that experienced that, have to say often the share price dipped below the placing price. I wonder if they chose 5p because they thought there was no way it would go lower... if so it might come back to bite them.
Long term view is positive for VLS, but no brownie points with existing holders after the recent actions.
Am in 2 minds about this. On the one hand, it will be a while until they turn over a profit, so some extra security to see them through is a good thing. However, I think it should have been smaller and given a much bigger share of the pie to current holders...
Full disclosure: I am long on VLS, with an average buy in of 3.8p and have not sold any.
You're entitled to your opinion, but the only way that you don't think it is worth 200M is if you don't think the factory will be built.
My opinion: I think the factory will get built and Shell and BA will take their 1/3 share. Altalto should produce 100M litres per year. That in itself is enough to make Velocys worth 300M in market cap (IMO). Plus, if it goes well it will lead to more.
The one good argument that shorts had before was that could Velocys stay solvent long enough to do it. I think we have seen enough backing from the UK government, Shell, BA, and a loan from the US that will likely not have to be repeated, to reassure that the backing is there.
Stocks are traded on forward prices. Anyone looking for an example of shareholders seeing long term prospects need only look at ITM.
So you have gone from saying you bought in at 3 and held thinking it would tank?
Good luck to all the genuine long investors. There's a special place in hell for shorts and vultures...
Or that you sold too soon and want a better entry point...
The MCap is still really small, so hopefully it has a long way up to go when people do the back of the envelope about prospects...
Speaking of cross-board tips. I also like TPG. They look like they have a good future and fingers in the right pies...
For people who once made comparisons with the share price history of ITM ;-) 4 years ago it was at this level, and it was never so low again, despite continuing to be a loss-making company...
Just look at ITM. We can dream ;-)
Would be happy to see ball park estimates of market cap in 5 years. Interesting comparison with ITM, but they had more of a plan for cash generation in the mean time. I see this as market cap possibly 600M as the factory comes closer. It is a no brainer in that they will be making a product that has to be bought.
More purchase orders over at NEL (8th & 10th June):
https://nelhydrogen.com/press-release/nel-asa-receives-purchase-orders-for-three-additional-hydrogen-fueling-stations-in-korea/
https://nelhydrogen.com/press-release/nel-asa-receives-purchase-order-for-a-2-5-mw-pem-electrolyser-in-europe/
Hopefully when the ITM factory is finished they will start piling up in the UK too...
NEL will also get more of those 30M orders from Nikola, like the one it has recently received. NEL also has multiple factories, including one in the US.
One thing you miss in your comparison is market cap. Both are in the the 1.5B ballpark, which I think is surprising.
Definitely a positive. But hopefully a reality check to somewhere more realistic. Great company but the tender pipeline of 260m should be seen as an extremely optimistic upper limit on revenue and we are yet to see the margin that can be achieved in the new factory (where work is expected to commence later in the year). A market cap of 1.3 billion is where I would expect the company to be with the new factory having been built an producing profitable equipment...
Oh, also just seen this: https://nelhydrogen.com/wp-content/uploads/2020/05/Nel-Q1-2020-presentation.pdf
slide 16. They use electrolysers to make oxygen on the UK trident submarines. ITM could branch out to oxygen supply too...