There's only one result when a heavily shorted company decides to bottom and turn north... Get's cold really quickly, short covers anyone! The price rockets in the other direction and sets up a nice reversal for a long term move in the other direction.
A heavily shorted stock IMO is great if you think it has bottomed. Good case at the moment to be made for this, chart wise there's a double bottom possibly formed but yet to be confirmed with subsequent price action, and fundamentally, the company is ready to make $$$. There are producing soon, have the contracts, have super low costs of production and the biggest reserves. Not to mention in the most exciting and IMO fastest growth area along with tech (being batteries). What's not to like.
Open to anyone with an opinion on the flipside.
Syrah shorts, page-2
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Last
52.0¢ |
Change
0.035(7.22%) |
Mkt cap ! $446.1M | |||
| Open | High | Low | Value | Volume |
| 49.5¢ | 52.5¢ | 49.0¢ | $4.362M | 8.476M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 70032 | 51.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 52.0¢ | 147948 | 10 |
View Market Depth
| Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
51.5¢ |
Change
0.035 ( 5.21 %) |
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| Open | High | Low | Volume | ||
| 49.5¢ | 52.5¢ | 49.5¢ | 2425774 | ||
| Last updated 15.59pm 17/05/2024 ? | |||||
| SYR (ASX) Chart |