Gekko I have been reading and enjoyIng your posts for quiet sometime now. Optimism is the essence of life. I believe in the EV space and invested big yet it does not exceed my 20% threshold. One day it will pay handsomly.
I have been trading for 30+ years. I know them inside out. Their traders live and die for $$$. Most companies have controls and are strongly reviewed by compliance and risk. Yet they persist and thrive. Their corporations pay them a portion of the profits they generate at year end and these bonuses can be huge. For these reasons and others I don't expect anything from their kind.
My belief is that value creates its own demand. In the last few months I have seen massive growth in EV production volumes and sales. The tide is getting behind the EV rampage and just as it happened in Norway once you hit 5-6% in penetration everyone wants his next car to be an EV. After China, Europe is going to be the next market to watch. Already many places are nearing 5% penetration rate and the numbers are exploding. It's just a matter of a year or two. The second factor to watch is oil. Gas is already very expensive in most countries except US. As oil creeps towards $90/bbl the switch to EV wIll only accelerate. The shorters are indeed living on borrowed times.
GXY Price at posting:
$2.42 Sentiment: Buy Disclosure: Held
