I have no idea mate. It all depends on how many insto shorts still need to close out. There's a one-week lag on the Shortman website, so I'll be checking it out later next week to see how many exited over the last couple of days.
It may continue to track up on Monday, or of course the insto longs might start to apply selling pressure to close out their positions before 18 March. I think it's obvious that yesterday's SP surge was linked to being booted from the ASX300, we saw a clear correlation with other companies that were removed. I'll be watching for SP weakness over the next couple of weeks as the rebalance takes effect.
That being said, FOMO for the EIA approval may provide support. If AGY doesn't track down over the next couple of weeks, I expect it will likely underperform other lithium juniors that weren't removed from the index.
AGY Price at posting:
16.0¢ Sentiment: None Disclosure: Held
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