Update on ITM Power – sell the remaining half of your stake

12th June 2020 | Sam Volkering

A few weeks ago my colleague James Allen recommended you sell half of your stake in ITM Power, the UK-listed hydrogen company that’s been a star performer over the last year or so.

He’s now recommending you sell the other half. 

I’ll leave it to James to explain exactly why.

Over to you, James…

Sam Volkering
Co-editor, Frontier Tech Investor

Two and a half weeks ago I recommended you sell half of your holdings in ITM Power (ITM:LN).

The time has now come to sell the remaining half of your holdings.

The stock has been whipped around by the wider market volatility in recent sessions and I’m worried our precious gains are vulnerable.

The markets seem very nervy and I want to get out of our biggest winner just in case sellers target firms such as ITM that trade on excessively high earnings multiples.

It’s not unlike our decision to get out of Nikola Corp. (NKLA) in that respect. I remain a huge fan of both companies but I think it’s safer to bank our incredible gains now while the going is good.

Indeed, as I said in the original sell note, I’m positive ITM has a hugely exciting future, with its incredible long-term revenue growth, sector leadership and industry tailwind.

So let’s turn our paper gain into a real gain, with a view to getting back in if and when investor sentiment turns.

Action to take: sell the remaining HALF of ITM Power holding
Ticker symbol: ITM LN
Recommended at: 33.40p
Current price: 312.00p

Until next time,

James Allen
Editor, Exponential Energy Fortunes

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