Australian Investment Blog
ASX:SYR 24/05/2018
Syrah Resources (SYR) is the most shorted stock
Stock
Syrah Resources (SYR) $3.50 as at 23/05/18
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. You can view short positions here: https://www.shortman.com.au/
Market Matters Take
The negativity towards SYR appears to stem from scepticism towards the profitability of its Balama project. This is highly dependent on the prices Syrah obtains 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.
- 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.
To read our full report "Looking at 5 Potential “Short Squeezes” Into EOFY (DMP, SYR, VOC, APN, JBH)" on the top 5 short positions in the ASX click here
Syrah Resources (SYR) Chart
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