While there're large open shorts, there have to be some price capping/manipulation activities.
However, if price goes up quickly, some of them have to start covering, then driving price further up.
Based on realised spodumene price (6%) at USD$750/t for PLS, that would be sufficient to justify $1/share, then probably $1.80/share for adding stage 2, imo.
November and December new energy vehicle sales are usually highest in the year in China, I can't think much negative news that would put pressure on share price in the near future.
Day to day discussions on S/P, page-5274
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Last
$2.84 |
Change
-0.130(4.38%) |
Mkt cap ! $8.550B | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.91 | $2.84 | $43.32M | 15.11M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 32 | 456378 | $2.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.85 | 101000 | 2 |
View Market Depth
| Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |