MM discussed PDN and uranium at length through 2025 with a recent oversubscribed equity raise in September and a solid quarterly update finally lifting confidence in their operations, sending the heavily shorted stock up towards $12. The shorts have really been squeezed here, and while the short position has dropped from ~19% to ~12%, it’s still huge, leaving plenty of fuel for ongoing pain for the bears. We intend to let PDN run for now after its stellar gains over the last 10-months.
- We can see PDN trading higher through 2026 – MM owns PDN in the Active Growth Portfolio.
MM is long and bullish towards PDN
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