RE:RE:Posco America relocates HQ to Washington.....MyZ. I came across a couple of partial news clips from Bloomberg, from last July, about Posco that may be of interest. The first, is how responsive the investment community was last July when Posco shares.....
"The winning streak in steelmaker Posco Holdings Inc. may grind to a halt after shares jumped 65% in July on bets that the firm’s $92 billion spending plan would give it a foothold in the fast-growing green industry. Analysts see expensive valuations as a deterrent following a rally that added almost $18 billion to the stock’s market value last month. Posco shares are headed for their biggest weekly" ......
AND
"Posco Group, the South Korean conglomerate that owns the country’s biggest steelmaker, said it plans to invest 121 trillion won ($92 billion) through 2030 on batteries and hydrogen.
The group — which has been taking steps to diversify beyond steel — will spend more than 60% of the total locally, creating about 330,000 jobs annually, it said in a statement Monday. Posco said it’s expanding investments in electrical vehicle batteries, as well as in hydrogen, but the company didn’t provide a detailed breakdown."
.... sorry I don't have the full version of the articles. I'm not a subscriber, so I don't get to read the rest.
Key Take-aways:
- Obviously Posco is being followed by the investment community down South, and they love the prospect of them getting a foothold in green technology.
- Posco is only one company, but they're investing an absolutely massive amount of cash in green technology. Say if they put 40% into N.A., that's $36 billion U.S.. If 10% came to Canada, that'd be huge.
- It's only a matter of time before the traders who pushed Posco stock up 65% last July get wind that the company is looking to invest in Alberta brine for lithium. When that happens, not if that happens, we can temporarily toss the fundamentals for E3 out the window while the traders have their way with the stock. I wouldn't even venture a guess as to where they'd take it. This may be the cheerleader in me getting the best of me, but tell me I'm wrong.
GLTA