Of course I don't know this as a fact. It's just a guessYou can't compare SYR to STX. SYR is being shorted for an entirely diff reason - the day the world values high cost natural graphite over the cheap synthetic stuff being pumped out by China may see SYR actually make some money instead of bleeding money and needing to raise new capital repeatedly (which invites shorters to stays short and continue to cover via the CR).
In STX's case, there isn't any logical reason why it is being short sold at current prices. CR was a possible reason but that has been ruled out. SN seemed quite convinced that the shorts are tied to index funds, and believes the shorts may be neutralised after rebalancing. We will find out soon enough
618
Ann: Webinar Registration for Q4 FY24 Financial Results, page-121
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