We have also covered PDN at length through 2025 although this sector and market laggard hasn’t been listening with the stock down ~4% year-to-date. Again, we can see a huge short squeeze in the offing with well over 15% of PDN held short, to put things into perspective this could take two months to cover. With the shorts unlikely to add to their already huge position we believe the path of least resistance is up and a move could well be explosive.
- We are bullish on laggard PDN initially targeting a retest of $9, or 25% higher.
MM is bullish on PDN medium term
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