As mentioned by Ken B, who would know, the shorting fraternity are playing a risky game. They are trading the lithium futures and using PLS as its proxy. Liquid and stable.
They will get 2nd degree burns if raw lith prices trend upward. At 20% shorted, a lot covering (buying) will have to happen ie 20% of 3 billion shares is 600 million shares.
So, for those that have taken somewhat delicate positions, eg half of the fraternity, they'll have to quickly buy 3-400 million shares. Lets say they've opened their positions @ hmmmm, say $4.20. It'll get there within a day or three, and overshoot, as per usual, to $4.50.
Bring it on. Usually i dont like the smell of burning flesh.On the other hand, a nice bbq once in a while anywhere on your street has you buying steak the next day the supermarket.
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Last
$2.59 |
Change
-0.165(6.00%) |
Mkt cap ! $7.933B |
Open | High | Low | Value | Volume |
$2.70 | $2.71 | $2.57 | $56.48M | 21.27M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
110 | 464149 | $2.58 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.59 | 194504 | 101 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
113 | 472237 | 2.580 |
41 | 304308 | 2.570 |
28 | 341592 | 2.560 |
48 | 281595 | 2.550 |
10 | 171795 | 2.540 |
Price($) | Vol. | No. |
---|---|---|
2.590 | 221823 | 105 |
2.600 | 411084 | 36 |
2.610 | 288065 | 25 |
2.620 | 101822 | 25 |
2.630 | 70216 | 7 |
Last trade - 15.50pm 04/09/2024 (20 minute delay) ? |
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