Liontown Resources (LTR AU): Passive Selling on Lower Float

983 Views09 Oct 2023 04:30
Hancock Prospecting's large stake will result in a reduced for Liontown and there will be passive selling over the next few months. Shorts could cover and Hancock could buy more.
Boomeranged on Mon, 16 Oct 2023 07:53
Albemarle has withdrawn its indicative proposal for Liontown due to 'growing complexities with completing the transaction'. No deal + upcoming passive selling could take the stock lower. The trading halt gives LTR and Hancock time to come up with something. Shorts in LTR have jumped over the last month and the last reported short interest is 218.76m shares (10% of shares out; 9x last-30-days-ADV)
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