J-Capital Short Report, page-191

I suspect the majority of shorts are instos, not retail.

The fund manager below was pretty keen to get their hand on a short in Jan 2022 (when the SP was ≈$1).

Lake Resources (ASX: LKE)

Ally Selby: Next up we have Lake Resources. It was the best performing stock on our list. Its share price rose nearly 1163%. Can I do it again in 2022? John, is it a buy, hold or sell?

John Deniz (SELL): Ally, it's a massive sell. If you could get the borrow, you'd want to short it. You do not want to be left holding the bag as they go into the truth-telling phase. They've got a challenging direct lithium extraction brine asset, poor management, a really lightweight board and their joint venture partner, I'd almost call a joke. They paid nothing for their 25% interest, which is a big red flag and it says a lot about the asset.

But more importantly, the resource - it's got a substandard brine and the only way they'll make it work is by throwing lots of acids at it. And good luck with that. It's going to be an expensive process and we doubt they'll get anywhere near their overly promoted project parameters. And if you pro-rata the market cap up, the market is paying almost $1.8 billion for the asset, which is so expensive.