The theoretical gain from Core shorts is getting to tiny figures...

The theoretical gain from Core shorts is getting to tiny figures even if they get the price down lower. The maximum gain from getting the price down to $0.00 is now $14m. Given no-debt companies with production and resource assets rarely get close to zero MC, the gains are now limited. Shorters appear to be moving onto other targets. There's approaching $5b in shorts across just those listed below. Its unclear how much of that book is in the hands of Citi but they could easily have a substantial portion of it.

If those shorts can get the prices down another 20%, they make another A$1b dollars (before fees). Depending on when the shorts were established, many may already be massively in the money. While some of those shorts will be playing cleanly (not manipulating media), some won't. Some will have set up social media accounts to peddle negative media. Some may even be paying posters to post negative stuff. How much of the negative media / messaging around lithium is due to their attempt to make that $1b by influencing social media and general media and through that lower share prices?

Core's dropped to 9c so the 158m shorts have a theoretical maximum gain of $14m.

Citi's game will be around the big company shorts.
PLS's got 620.5m shorts and at $3.23 the theoretical maximum gain on those is $2,004m.
LTR's got 282.8m shorts and at $0.93 the theoretical maximum gain on those is $263m
SYA's got 1,021.6m shorts and at $0.035 the theoretical maximum gain on those is $36m
VUL's got 10.5m shorts and at $3.90 the theoretical maximum gain on those is $41m
According to Yahoo finance, Albemarle's got 13.59M shorts at US$92.77 so the theoretical maximum gain on those is US$1,261m
According to Yahoo finance, SQM's got 5.82M shorts at US$40.23 so the theoretical maximum gain on those is US$234m
According to Yahoo finance, Sigma's got 11.81M shorts at US$12.19 so the theoretical maximum gain on those is US$144m
According to Yahoo finance, PLL's got 3.25M shorts at US$9.28 so the theoretical maximum gain on those is US$30m

One of those new targets is LTR who is at all-time record high shorts.