There’s only so many shares the shorts have access to. Without...

There’s only so many shares the shorts have access to. Without taking into consideration the current raise, the short limit was sitting at ~17-18%. PLS steady at ~21%. And as time goes by, the opportunity to cover before good news is reduced which will limit the short activity.

The way I see it, once the capital raise is complete and balance sheet sorted, the DFC loan will come through and allow SYR to tread water a little longer. Enough to get commercial product to Tesla. I personally don’t think the DOE loan is near given the liquidity requirement of the DFC loan. So I think once SYR starts shipping to Tesla only then will the US go all in. They’ve waited this long so another 6 months to confirm SYR can actually deliver AAM is not a long time to wait.

Curve ball would be China exporting graphite products again while SYR are trying to build an ex-China market. This is a real concern.