Paladin (PDN)
Is Market Matters concerned that PDN is the fourth most shorted stock on the ASX and with the coming November election in Namibia? What is the reason that the stock is so heavily shorted?
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Answer
Hi Albert,
We rarely like a stock held in our portfolios to be heavily shorted, but we believe this is an anti-uranium position with PDN being the most liquid of the ASX stocks exposed to the sector. MM remains bullish the uranium/nuclear thematic and as Microsoft have recently demonstrated the AI revolution is going to require massive amounts of power, with uranium the solution that Bill Gates has just turned to.
- This same huge 12.4% short position is one of the reasons that PDN has surged over 40% in the last 3-weeks, we remain long & bullish PDN.
