By Steve Moore | Thursday 25 June 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Previously writing on Velocys (VLS), last week I noted a “Trading Statement” speeding ticket with the shares falling towards 13p though still concluding since the share price compares to below 3p little more than a month ago – was the company forced to make the statement? Still however ‘opportunity’ for a necessary fundraising? – at a discount (natch) with a currently still more than £84 million market cap. Bargepole / sell. Now this ‘sustainable fuels’ technology company “is pleased to announce that… it has raised gross proceeds of £20 million… accelerates our ability to provide commercial scale turn-key solutions”...
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