Linde’s Shares Slump to 191st in Volume Amid Dwindling Institutional and Retail Interest Despite Hydrogen Expansion Hopes

On October 3, 2025, shares of Linde (LIN) declined 0.59% as trading volume dropped 25.77% to $0.58 billion, ranking the stock 191st in volume among listed equities. The move reflected subdued institutional activity and limited retail participation in the industrial gas sector.

Recent developments in the energy transition space highlighted Linde’s strategic positioning in hydrogen infrastructure development, with analysts noting the company’s recent project expansions in North America and Southeast Asia. However, macroeconomic concerns over global industrial demand tempered investor enthusiasm, particularly as key markets like China signaled mixed manufacturing activity. The stock’s performance remained anchored to broader market sentiment rather than sector-specific catalysts.

Portfolio managers observed that Linde’s valuation multiples continued to trade at a discount to historical averages, despite its dominant market share in industrial gases. This divergence was attributed to persistent uncertainties around capital expenditure timelines for green hydrogen projects, which remain critical to long-term earnings growth.

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