Shorting lithium became/has become a crowded trade - leaving only one option, share price does the contrarian thing and reverses course back up.
600m+ shares sold short over a few months, 21% of the register. After all of that selling, the share price was still not getting lower than $3. The share price had no where to go except up IMO, this is only being exacerbated by the recent change in sentiment on the futures contract and recent spot carb and today's spod read.
I'm still looking at the aggregate short data and seeing well over 600m shorts open @ 22nd February. If this is truly turning into a short squeeze, then PLS >$5 looks likely, let's see if this SP continues over coming week.
Good News & Bad News, page-39424
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Last
$3.14 |
Change
-0.125(3.83%) |
Mkt cap ! $9.525B | |||
| Open | High | Low | Value | Volume |
| $3.19 | $3.20 | $3.11 | $45.10M | 14.21M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 87 | 458546 | $3.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.14 | 274147 | 85 |
View Market Depth
| Last trade - 13.37pm 28/06/2024 (20 minute delay) ? |
| PLS (ASX) Chart |