There were many that thought that there would be a rapid rise in the SP once the shorts started heading for the exits. The term "burning" being used and I guess that was the conventional view for those that thought that the falling SP was solely due to "shorters". This scenario would apply if the shorts were wrong and a company was in fact worth more than the price they had driven the SP to. In the case of ORE it is the fundamentals i.e.falling lithium chemical prices, that have given the shorters the opportunity to run an effective short attack and it is the fundamentals i.e. no near term likelyhood of the price of lithium chemicals rising, that have given the shorts the opportunity to gain a painless exit. It is probably arguable that if the shorts weren't exiting the SP might even be slightly lower. In my view the shorters have just about squeezed the lemon dry and are finding other areas to deploy their money that will give them a greater return. This could very well change if the SP rises without the backing of fundamentals where they could very well start piling in again.
P
ORE Price at posting:
$2.03 Sentiment: Hold Disclosure: Held
