I mean - if you short now what are you hoping for?
I’d say the drop would have panicked most retail on day 1 and they would have sold. Great for shorters.
Now? It’s a “technical” default - not a “monetary” one - as Syrah has not begun repaying either loan as yet. It’s more to do with stored inventory requirement levels IMO.
When this blows over - USA won’t let this happen again - more than likely they are going to stockpile like crazy on USA soil.
All this does is highlight the need for USA to be more proactive and act with more urgency.
Aus Super has over $300 Billion under management and 32% ownership.
Cool heads need to prevail all round.
Cheers
DYOR IMO
SYR Price at posting:
18.3¢ Sentiment: Buy Disclosure: Held
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