According to shortman.com.au, there's been a small uptick in the number of shorts on WBT, just over 500k, starting exactly when the news about the Onsemi agreement dropped. The low was on 31 Dec 24 (@4.98m), the last published number was on 6 Jan (@5.49m). Its probably no coincidence that the apparent increase in the number of HC posts about WBT from the naysayers and finger waggers started on the morning of the Onsemi announcement, even before the open. At least that's my recollection. They said "it's the uprampers fault", "the SP went too high", "people got over-excited", etc etc, and other trivial nonsense. The best one of all was "don't blame the shorters", whilst the stats clearly show an increase in shorting activity ! These negative posts continued all last week, whilst the SP has been under pressure from sellers, and possibly further shorting. With the benefit of hindsight, I'd say its now clear that buying at >$8 at the peak in March 2023 was then risky, but surely so too is shorting near the bottom, which is likely where we are today ? Someone clearly decided to increase their shorts in the first week of January with the SP in the $3 range. That's not a bet I'd want to take. Whether the shorts continue to rise from here, when more than half have already exited (in the $2-$3 range), will be interesting to watch. Anyway, if WBT manage to sign a few more licence agreements in 2025, including a "household name" that Coby has alluded to, and revenues start to trickle in, the company's prospects will look substantially stronger than even March 2023, and I believe an ~$8 SP (consistent with the current broker valuations) will be widely accepted as appropriate. Posters here will probably then be debating whether a $20 SP is over or under valued.
All IMHO, DYOR
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