Much to the chagrin of our friend “Sueyou” on the bulletin boards (and his various aliases) and now Lucien Miers, it seems the phoenix like rise of Ceres Power continues.
In talking to market participants, it is relayed that there is a dearth of sellers at this level with a lot of profit taking/reduction in holdings having already taken place in recent weeks. ORA Capital have played an absolute blinder here in raising the market cap back to realistic levels and, on paper, booking themselves over £8m of profits so far.
With Miers adding to new potential buying fuel if reports of his short position is correct, it looks to us only a matter of time before the stock returns to double digits.
6 month chart of Ceres Power