NIC rallied over +6% yesterday making it the markets 5th best performer but like LKE it’s been a rocky road for NIC correcting 50% from its March high after Russia’s invasion of Ukraine sent nickel prices soaring. There’s a lot going on with this company but its unchanged in almost 2-years while many other players in the space have rallied strongly, our view is to simply stay with the strength.
- Again we see better risk/reward in the more mature companies in the “Green Energy” space i.e. NIC is still 36% below its March high.
MM is neutral NIC around $1.15
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