ITM Power (LON: ITM) was the biggest faller on AIM yesterday, and it dragged down other fuel cell companies with it.
ITM says that its full year loss will be higher than expected and the cash burn was £52m -although there is still £364m in the bank. Revenues remain modest at £5.5m due to delayed deliveries of products.
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The share price dived 52.6p to 236.2p. Even though the ITM share price has fallen by two-fifths since the beginning of the year, it is still one of AIM’s ten largest companies. AFC Energy (LON: AFC) fell 2.1p to 25.4p, while Ceres Power (LON: CWR) slumped 79.2p to 593.6p.