If Fluence looked like a company that was going to fail, it'll be hovering in the 20's now ... the mere fact this has moved up to the mid 50's to attract supply is a sign that there are some big hitters wanting to get in before the cat gets out of the bag on this stock.
Financial close of the Ivory Coast deal is a major milestone this quarter that is just as important, if not more important, than another iTEST like agreement in China.
Without the Ivory Coast financial close, a profitable Q4 is basically out of the question .. and the backlog would look quite underwhelming compared to what it looks like with the deal. Keeping in mind this doesn't include the O&M contract that Fluence will be in the box seat to win and will be a recurring element that will make those profitable quarters that much easier to achieve going forward.
My graph below is a case in point, showing the difference in backlog revenue with and without the Ivory Coast contract.
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