Shorts continue to build into share price strength.
Are they trying to defend their existing position? Possibly.
Is their short position based on company fundamentals/financials and/or shareholder discontent?
If yes, then I believe that their analysis is flawed if it is based on headline figures rather than detailed analysis.
Could be related to anticipated Who Dat production disruption if we get above average hurricane activity this year (just starting) as predicted (possibly inflated due to climate change alarmism).
The commissioning of the Matterhorn Express pipeline (commissioned Q3, 2024/current quarter; may have been delayed) will transport 2.5 BCF/day from the Permian Basin where a lot of gas is currently flared, and is spot price is very low, and has even been negative on several occasions.
An additional 2.5 BCF/day transported into the Gulf area, will weigh heavily gas prices, with a negative impact on KAR revenue/FCF/profit.
Additional gas demand will come in 2025 with commissioning of new LNG export facilities in 2025.
The gas glut will likely get worse (Matterhorn Q3, 2024) before it gets better (new LNG export 2025)
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Shorts continue to build into share price strength.Are they...
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Last
$1.53 |
Change
0.000(0.00%) |
Mkt cap ! $1.211B | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 32786 | $1.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.48 | 3068 | 1 |
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| Last trade - 09.50am 02/10/2024 (20 minute delay) ? |
| KAR (ASX) Chart |
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