Uncategorised

Velocys almost back to placing price – time for a renewed charge? (VLS)

23 Mar 2018 | by: Richard Mason

We covered Velocys (LSE:VLS) just over a week ago after it received government verification of its Renewable Identification Numbers (RINs). The RINs were produced at its joint venture ENVIA Energy’s plant in Oklahoma City and are an important step to progressing the project.

The market liked the news, with the share price rising 30% to just under 18p, but there was a subsequent sell-off as traders took profits. Today, the stock has touched sub 11p and is offering another opportunity for entry to those on the sidelines interested in this renewable energy play. Support appears to be around 10.6 with an all-time low of 9.3 being the last stand should it be required. The stock gapped down from 21.5p on news of January’s heavily discounted placing, offering a potential gap fill to target.

Author: Stuart Langelaan

Disclosure:
The author of this piece owns shares in the company written about above

Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

    RNS Responses

    Squarespace IPO: what you need to know

    Squarespace $SQSP is heading for a direct listing this month. Does this tech savvy web hosting service look a good long-term investment or a stock to avoid?

    Are there any ESG friendly cryptos?

    Environmental, Social, and Corporate Governance (ESG) investing is forcing agendas. Will Tesla backing out of accepting Bitcoin hinder crypto’s rise?

    What is a SPAC?

    SPAC is short for Special Purpose Acquisition Company – though it’s also sometimes known as a ‘blank cheque company’ – but what exactly is it?