Australian Investment Blog

ASX:SYR 24/05/2018

Syrah Resources (SYR) – “short squeezes” into EOFY

Stock

Syrah Resources (SYR) $3.50 as at 24/05/2018

Event

Graphite producer Syrah Resources (SYR) is the most shorted stock on the ASX with almost 20% of its stock short-sold although this has decreased 1.5% over the week. The negativity towards SYR appears to stem from scepticism towards the profitability of its Balama project / prices that can be fetched for its graphite. SYR is not a stock we are considering for any medium / long-term investment although its degree of short-interest cannot be ignored.

Market Matters Take/Outlook

Aggressive traders could consider buying here with stops below $3.30, again solid risk / reward but not a position for MM due to our ambivalence towards SYR.

Syrah Resources (SYR) Chart Syrah Resources Chart

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