Share price will be ~$2 by the end of the year. Short sellers have no interest in covering given that the price of spod will be down the toilet for quite some time to come and valuation looks insanely expensive given the peanut profits being produced relative to valuation.
Hardly any production cuts by existing producers and in fact many are ramping up production. Doesn't exactly sound like an environment where producers are struggling. Production cuts are needed to bring supply vs demand into equilibrium.
A reality check is needed for holders.
Good News & Bad News, page-43785
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Last
$2.98 |
Change
0.020(0.68%) |
Mkt cap ! $8.968B | |||
| Open | High | Low | Value | Volume |
| $3.03 | $3.04 | $2.96 | $26.29M | 8.754M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 76 | 277603 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.98 | 60765 | 39 |
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| Last trade - 13.02pm 09/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |