Fantastic how a big drop brings out the non holders with some friendly advice for all.
Some food for thought -
We all knew the shorts were plugging away here and although it looked like they were stuck at $3.50 - they found some more ammo. Good on them.
Interestingly the only graphic they can find that shows a decline in Li demand is a manufactured graphic with 10% yoy growth as a baseline- pretty positive really - but banded around like doom and the end of sales growth. Comedic really even for a moron.
This graph has been used by multiple analysts to drive the declining Li narrative.
Who does this narrative benefit? - two main parties today - Li buyers and shorts.
It may well bite 1/2 of them them in the ass if a takeover bid is made. interested to see.
But what we know for sure is Li demand is growing - exponentially - as is demand for EV's - really only in its infancy atm.
What is the effect of this narrative- volatility. A traders delight. At the moment there is money to make on a decline- but the same enthusiasm will be used to make money on the inevitable rise too - by the same participants (except the buyers).
As others state what cures low prices- low prices.
How does the industry react? There is only one possible way to react to pricing below sustainable levels - reduce or cease production.
PLS obviously isn't going broke anytime soon (hence the large institutional ownership) and with ongoing profits at current sales pricing I see its strength only increasing really as smaller players fold.
The tide will turn and I will still be here watching. There's lots of profit in this long.
May have to buy some more now I think even though I'm averaging up.
Will be very interested to see tomorrows trading.
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Last
$2.83 |
Change
0.090(3.28%) |
Mkt cap ! $8.522B |
Open | High | Low | Value | Volume |
$2.75 | $2.83 | $2.72 | $39.65M | 14.17M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 1106 | $2.82 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.83 | 211057 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 1106 | 2.820 |
1 | 2000 | 2.810 |
5 | 369228 | 2.800 |
1 | 75128 | 2.790 |
6 | 50415 | 2.780 |
Price($) | Vol. | No. |
---|---|---|
2.830 | 211057 | 8 |
2.840 | 72076 | 9 |
2.850 | 84260 | 25 |
2.860 | 39915 | 8 |
2.870 | 34648 | 6 |
Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
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PLS (ASX) Chart |