Where are shorters going?
Ticker
Company
Short %
Prev
% Chg
Strandline Resources
1.73%
0.65%
1.08%
Pilbara Minerals
7.53%
6.71%
0.82%
Lynas Rare Earths
4.84%
4.09%
0.75%
Genesis Minerals
1.64%
1.01%
0.63%
IGO
3.26%
2.63%
0.63%
Credit Corp
5.28%
4.78%
0.50%
Perpetual
2.28%
1.82%
0.46%
Bubs Australia
1.63%
1.21%
0.42%
Silex Systems
2.79%
2.39%
0.40%
Pilbara Minerals: a little squeeze
Pilbara Minerals has seen short interest rise dramatically over the past couple of months:
1-month ago: 6.2%
3-months ago: 5.6%
12-months ago: 1.8%
Here are a few reasons as to why investors are bearish on lithium:
Lithium prices continued to unwind after a brief bounce earlier this year. Chinese lithium prices fell below 265,000 a tonne at the start of August, the lowest in over two months.
Lithium miners are guiding to lower earnings amid the pullback in prices. The US-listed Albemarle said “as prices decline, we are realising lower lithium prices faster than lower spodumene costs, and we expect the majority of this impact is going to recur in the third quarter.”
Tesla’s China-made EV sales fell 31% month-on-month in July, according to the China Passenger Car Association (CPCA).
On Monday, Pilbara Minerals upgraded its resource estimate by 36% to 414mt at grades of 1.15%. The stock finished the session up 4.9% and rallied another 2.7% the next day – Leaving it just 6% off all-time highs. These gains might be exacerbated by potential short covering, which we’ll see next week.
- Forums
- ASX - By Stock
- PLS
- Good News & Bad News
Good News & Bad News, page-31854
-
- There are more pages in this discussion • 15,052 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
LU7
Discover the strong preliminary feasibility of the Bécancour Lithium Refinery, showcasing resilience in a low pricing environment and a strategic plan to capitalize on future price recoveries
Add PLS (ASX) to my watchlist
(20min delay)
|
|||||
Last
$3.05 |
Change
-0.100(3.17%) |
Mkt cap ! $9.185B |
Open | High | Low | Value | Volume |
$3.13 | $3.15 | $3.02 | $74.55M | 24.33M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 89482 | $3.04 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.05 | 37502 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 31294 | 3.030 |
12 | 119629 | 3.020 |
6 | 50011 | 3.010 |
54 | 211167 | 3.000 |
11 | 153088 | 2.990 |
Price($) | Vol. | No. |
---|---|---|
3.050 | 11000 | 1 |
3.060 | 10330 | 1 |
3.070 | 36169 | 4 |
3.080 | 41571 | 4 |
3.090 | 30000 | 2 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
Featured News
PLS (ASX) Chart |