Why the big drops in ITM Power since the announcement of formation of separate limited company?
Presumably they still own the new company?
Not sure this announcement was the catalyst to the drop in the share price as the shares had already been in free fall since hitting a peak above 700p at the end of January. At that point it had a c.£3 billion market cap on historic sales of about £1 million. It’s an interesting company in a fashionable sector, but I think the shares had been hyped well above their fair value and suspect it will continue to be a wild ride. I managed to cash out most of my original holding at something like 30x the entry price and will look to get back in when the share price gets back towards the level of last year’s fundraising(s). They’ve just announced a results investor presentation for June 10th via the link below that should be worth a view.
https://www.investegate.co.uk/...
Gus.
