
NEWSFLOW
#ITM Power – H1 £56.5m loss, net cash £317.7m, emphasises ‘strategic changes’
- 2023-01-31 07:48:16
A couple of years ago I did a podcast suggesting that the share price of ITM Power (ITM) was truly bonkers. In the mad rush to buy “green” investments it then got a bit more "truly bonkers". That is the problem with bubbles, they can just keep on expanding far longer than most folks think, defying all logic. And green energy clearly is a bubble.
Hello Share Chasers. A company fairly prominent in the daily winners list for the past few sessions is ITM Power (ITM). It generates hydrogen. The recent share performance is with, of course, uncertainty over oil and gas supplies caused by Putin’s war. Hydrogen is an alternative fuel that doesn't affect greenhouse warming.
ITM Power (ITM) has advised it has raised a shedload of cash to the tune of £250 million via a placing at share price of £4. I find the detail and timing very interesting and cannot help myself questioning if this is the pre-cursor to FLOP26, ops sorry COP26, and the bursting of the green bubble.