We need to look at the possible reasons what put GXY and ORE in the top 10 list of shorted ASX stocks?
No 1 appears to be the oversupply and price decline. Although there is plenty of experts and company reports unveiling this as a Morgan Stanley fairy tale.
If GXY announces two things, the full funding of SDV combined with a 5-10 year offtake for SDV with a certain price range to signal the lithium market is hungry and pays top $$$, IMHO this would take care of reason No 1 for short selling.
Right, signed POSCO deal and JP Morgan brokered offtake deal are near tearm announcements.....
So what are the shorters thinking?
Maybe they don.t, and like a lot of longs follow the herd mentality.
It just doesn.t make sense.
GXY Price at posting:
$2.82 Sentiment: Buy Disclosure: Held
