PLS has bounced over 10% from Monday’s fresh 2-year low, not a significant move in the scheme of things but encouraging for the long-suffering bulls. We’ve believed that PLS was “looking for a low” for a while, and the recent post-Trump victory washout feels like it might have been delivered, assisted by PLS’s massive war chest enabling it to survive the current aggressive downturn in Li prices, i.e. a solid net cash position of approximately $1.8 billion.
- We like the risk/reward ratio for PLS, with a recovery back towards $3 looking like a strong possibility, i.e., 25% upside.
MM is cautiously bullish towards PLS
Add To Hit List
