I dont think anyone is claiming "undervalued" it is a punt based on the fact cobalt/lithium will be powering every vehicle in the world in 20 years time and WFE have a great angle in to this.
A punt i am willing to take, the upside in insane if/when the cobalt strategy is successful. Its a spec stock!
Currently we have nothing but a "plan". Im sweet with this, bought more today in fact!
