I believe in ITM. But as you say, profits baked in.
You have to give it to 2023 in my opinion. That’s when all the really big projects will start to go through. At the moment most are working through their early planning and initial design stages and ITM’s revenues will remain subdued for a while longer. However if and when it becomes clear to the market that ITM are going to be right in the thick of things for the long term, £3 billion will look very cheap. Until then its a case of doing your research and placing your bets. Consistent progress in the business should hopefully keep the share price moving forward but I think you need to be able to sit on this one for a couple of years. With the Linde joint venture though, ITM are the clear leaders in my opinion. They have everything in place for a decade of practically unlimited growth. Nothing is guaranteed of course - I see the emergence of cheap Chinese electrolysers as a threat for instance - but am holding onto my shares tightly. Clear potential to become a FTSE 100 company by 2025 and a strategically important player in the UK’s net zero strategy.
This explains the drop.
" ITM Power sales up 30%, losses down 9%
ITM Power [LON:ITM] has full year results out this morning, showing sales up 30% and operational losses down by 9% .
The company has a growing backlog of work and the tender pipeline is almost twice as strong as it was a year ago. This is giving the company confidence over the outlook and the recent fundraising means cash & equivalents worth £176m are on the balance sheet. This however remains something of an evolving company – events like COP26 in Glasgow will be in focus, but governments for now appear more centred on post-pandemic recovery."
This explains the drop.
Also it’s one of my biggest holdings in my LISA so it was bound to crash and burn.
Diamond Hooves … Hooves Of Doom strikes again!
If we see 325p again I’m going in deep.
If we see 325p again, I’m going in deep too - straight into the canal!
made me genuinely laugh
It’s you guys here in the comments that’s giving me the confidence to “HOOOOOLD”. In fact if we hit 325 again…I’m getting my diving suit out.
This share has a clear pattern over the past year - low of around 3.80 and a high of around 5. Therefore your strategy should be buy around sub 4, once it’s around 4.10 set a stop loss to lock in your profit then ride it out to 4.70 and sell. Then wait for the inevitable drop and do it again. This has happened 3 times now
I have that thought every time it gets to £5 but I know as soon as I sell it’ll skyrocket…