Yes and the thing people need to remember is, Yes these institutions are slime balls and make a truck load of cash shorting stocks but they are short for a REASON. Until Sayona gives them a REASON to not be short on the stock then we're always going to have them clawing us back like was seen today.
What do I mean by giving them a reason to not be short?
-reduce operating cost
-offtake agreement
-carbonate plant DFS and partner, funding plan
-Chairman and CEO appointment
-drilling results that are horribly late compared with peers.
-an updated top 20 holders list
Now can you see why there are some many short positions out against Sayona? especially in the current pricing environment, just because the lithium price increases doesn't necessarily mean we magically shoot back to 8-12c range. The above needs to get in order first IMO.
So while price is the biggest driver and you can clearly see today that the market rewards companies that have their house in order when the price goes up.
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