Goaded by me repeatedly, Invinity (IES) has served up a trading statement which dissembles. The only question now is WHEN is the bailout placing? I suspect pompous broker Andrew Monk is already on the case.
On September 5 2023 I took Andrew Monk of VSA Capital (VSA) to task for trying to ramp shares in Invinity Energy (IES) on an all expenses paid jolly visiting Canadian fund managers. The shares were then 49p. I do hope that you followed my bear call as, despite Monkey’s wretched protestations, I was bang on the money. The shares are now 28.5p and falling rapidly.
You may remember that a few weeks ago Andrew Monk got pretty furious when I suggested that he was taking Invinity Energy (IES) to see a stack of Canadian fund managers to lay the groundwork for the next bailout placing. Today we have interims and it is blindingly obvious that as part of his degree in name dropping at Oriel College Oxford, Monkey did not do any maths but he might have done a paper on misleading investors. Natch Invinity boasts of “record” sales and muppet investors seem impressed by that ignoring the company’s own admission today that it is running out of money.
Hello Share Shiners. You may not be as familiar with vanadium batteries as much as you are with the lithium kind. But they have advantages over the more familiar ‘green’ batteries…
Previously writing on company which describes itself as “a leading global manufacturer of utility-grade energy storage” Invinity Energy Systems (IES) last month with the shares falling towards 40p I noted cash burn concerns and now, quelle surprise, the company “is pleased to announce the results of the placing”. How ‘pleasing’ is it?
On the ‘no one watching o’clock’ day of 30th December Invinity Energy Systems (IES) issued a “Project Delivery Update” which helped the shares up 13.5% to 43p as it included that the company “now anticipate revenues in 2023 significantly ahead of its previous expectations” and that “the prospects for our battery systems have never been more positive”. However, I concluded that it was also a trading warning for its year ending 31st December 2022 and asked how bad was the cash burn in the second half of the year then?. There are now some broker “estimates revised” and the shares are currently slipping back.
On this ‘no one watching o’clock’ day from Invinity Energy Systems (IES), a “Project Delivery Update”… but the shares currently up 13.5% to 43p in response, so good news from the company?
Thanks to reader Paul we have an answer. Normally companies presenting at such events, as they pay to do so, do not always deliver in terms of share price gains. In fact Ed Croft of Stockopedia claims they always do the reverse, they underperform. That would be unlike big calls from Stockopedia, which tipped Wirecard as a storming buy 2 days before what was obviously Europe's largest fraud went tits up and also said Quindell was one of the cheapest shares on AIM. Did I mention Globo, Ed had that as a big buy too before it became a zero. Anyhow back to our show in May...
