Yes, it is a mystery to me also. Remember 2020, they were wrong and jumped ship. Shorts reduced from +10% to almost 0% by mid 2021. They are obviously expecting a flood of supply, demand drop, or world events (US debt ceiling) to put the Lithium sector under pressure. If they are wrong again, expect them to bale out as PLS and the other Lithium producers continue to bank cash. I still believe higher prices for longer is in play. Maybe not $8k, but enough for shareholders to bank nice dividends and justify a much higher SP.
On saying that, AKE has not been shorted to the same degree and the recent merger has seen shorts exit dramatically. LTR was at 9% and halved since the TO offer. CXO under pressure as the production delay was a nice excuse for shorts to have a field day.
There is a lot of bad commentary about pricing and the sector in general. If shorts are basing their case on that, they are in trouble.
Good News & Bad News, page-28988
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Last
$2.74 |
Change
-0.110(3.86%) |
Mkt cap ! $8.249B | |||
| Open | High | Low | Value | Volume |
| $2.80 | $2.80 | $2.66 | $184.4M | 67.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 238827 | $2.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.74 | 274109 | 7 |
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| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| PLS (ASX) Chart |