I did not think we would see this under $2.80 again. Did the shorters give up on trying to cover their position? Seems like extreme risk for them at this point as there are many potential catalysts that could cause a spike in the share price.
The spot market is still falling, but even a slight disruption to supply could send it to the moon again as we have seen multiple times before. BOE could also choose to sign long term contracts at a much higher price instead of selling in the spot market. If the stock becomes too cheap, there is always the possibility of a takeover.
Any of these things could result forced buying by shorters.
BOE Price at posting:
$2.71 Sentiment: Buy Disclosure: Held
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