doesn't matter. they had to announce it being material. but i...

doesn't matter. they had to announce it being material. but i agree with you a billion dollar company (at the time) announcing a 5,000t per ann offtake for 700 bucks per tonne did sound a bit funny...to normal people. not people in the echo chamber.
Funny because an offtake of that nature to a billion dollar company is ridiculous, but mainly, because all the numbers prior were 1,000,000 tonne pa...$5,000 per tonne...$10,000 per tonne up to $10,000,000 per tonne.

then it was $700 per tonne.

thinking more about this, the 2 positions may not be mutually exclusive. its not JUST the shorters and it;s not JUST the market thinking this is over valued. Which clearly it does. look at whats happening. The question is now just how MUCH does the market think this is overvalued.
It's both. shorters haven't done this on their own. it's also people watching their 8 bags turn into 7, turn into 6, turn into 5.....