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Saying that a company must have bad fundamentals because it's...

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trentwilliam

263 Posts.

104

03/10/19

19:37

Post #: 40714353
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Originally posted by SodaFizz: ↑

Hi There Trent, Yep agree with you completely, I think a lot of people are way to emotionally biased on GXY and seeing a fundamentally sound producer under a dollar is harrowing and perplexing for those with skin in the game. However, Smart money says that Lithium and Battery Material in general is not in demand for the near future and this is backed up by of the top 5 most shorted stocks, Lithium/Battery Materials take up 2nd, 3rd and 4th place.

While the shorts haven't increased they haven't increased either hence the price going backwards. If you were smart you would have set a stop loss at 2.10 and parked in cash then doubled down. I have no doubt that if you doubled your holding that 3-4 years from now you could buy a decent sports car with the take, but for the time being, and the fact that we are about to go into a long shitty recession and oil fueled war, means that you might be waiting a while and all that will affect how low this will go. I also agree 70-75 cents is my pick for bottom.

Shortman Top Shorts Taken 1:10pm 3/10/2019
1 NUF NUFARM LIMITED ORDINARY 17.19%
2 ORE OROCOBRE LIMITED ORDINARY 16.30%
3 SYR SYRAH RESOURCES ORDINARY 16.24%
4 GXY GALAXY RESOURCES ORDINARY 16.14%

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Saying that a company must have bad fundamentals because it's industry is being shorted makes no sense

GXY Price at posting: 99.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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