Why the shorters are shorting SYA, page-12

I don't think BOT answered his own question that much. If it's worth anything, I think the reasons are:

1. Institutions are keen to ride lithium sentiment down. In the top 10 most shorted stocks you can see PLS at runaway leader #1, as well as CXO, LTR and SYA; it can't be a coincidence that 40% are lithium players.
2. LTR is probably up there for specific reasons, i.e. Gina buying a blocking stake at $3/sh made it highly possible that ALB would walk away (as some in the press/market had speculated), and the company would therefore be forced to go to market to fill the funding gap. Shorters read this like a book.
3. SYA I'm unsure of specific reasons, the valuation has come off a lot so it's not as frothy as when it was in the $2B range. However there's evidently plenty of borrow available, and prior management has an unfortunate track record of blowing out the capital structure by constant share issuances. When you combine that with how opaque Sayona has been recently on their sales revenues, I can understand why for an institution looking to short the sector, it's near the top of their list. It's up to the company now to put a few quarters of solid production under their belt and either prove those fundies right or wrong. Simple as that, in my opinion.