It is a fact that this share has been shorted to the extend that it can hit the bottom as dictated by the shorters. The question here is are shareholders prepared to throw their shares to feed the shorters. It will come to a stage where shareholders will put a stop to their release of shares and start to buy after looking at the fundamentals of both CXO and the market for lithium. Currently China has an "overstocked" position and hence the demand may have fallen. However this is a short term situation and they will have to buy as the long term objective is to move from fossil fuels to green energy. Ultimately China and India the world's two biggest polluters will have to comply with what the world wants.
As a shareholder, I am currently making a paper loss and at this low level, it makes no difference if I were to sell or let the price come down to 1 cent. The shorters should also realise that they cannot surpress the price down to a level where prospective buyers will consider the price a bargain and purchase whatever is available to the detriment of the shorters.
I am willing to hold and not parting with my shares. This is my opinion and not advice.
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Last
14.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $299.1M |
Open | High | Low | Value | Volume |
14.0¢ | 14.5¢ | 14.0¢ | $307.3K | 2.175M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
34 | 1373855 | 14.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.5¢ | 2599810 | 32 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 759940 | 0.140 |
67 | 3172964 | 0.135 |
65 | 2775067 | 0.130 |
26 | 930438 | 0.125 |
38 | 1192134 | 0.120 |
Price($) | Vol. | No. |
---|---|---|
0.145 | 2320582 | 26 |
0.150 | 2593272 | 61 |
0.155 | 3194806 | 49 |
0.160 | 3089800 | 45 |
0.165 | 1287751 | 35 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
14.3¢ |
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Change
0.000 ( 1.64 %) |
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Open | High | Low | Volume | ||
14.0¢ | 14.5¢ | 14.0¢ | 1855690 | ||
Last updated 15.59pm 03/05/2024 ? |
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