Velocys PLC (OXFCF), the UK headquartered company which aims to enable sustainable fuels for aviation through waste to fuel conversion, has recently seen its share price explode. This share price rise is not justified given the news released. A total company valuation of £90 million+ is overvalued, to say the least, at this point in the company's development and when considering its overall forward-looking pipeline.
Source: Prnewswire.com
The news
The company had two different pieces of news that fueled the rise, both released on the 12th of June. In the morning, the company announced that