My Prediction - I Missed It.... Well, my prediction last night, I'm very happy to say, was not accurate. I posted on this board that Stans would hit a high of $1.39 and close at $1.35. In reality, the high was $1.43 and a close of $1.41!
Very happy in the action, considering almost all the other REE stocks I follow are basically stuck in the mud. GWG fell 6% today to $.51. Most other REE's down today. Stans up 14% today. I can't explain it other than to speculate:
1. Investors believe the feasibility will be good and are buying on the rumor.
2. Investors realize Stans is closer to production than the other REE stocks with all the other advantages we talk about daily (mine, plant, mill, infrastructure, metallurgy all in place).
3. Perhaps Stans is an attractive target of a Lynas or MCP who focus on LREE's, so there is buyout speculation? I don't know.
Stans is actually doing something while most others are just talking, and they are still 4-5 years from production. Perhaps that is why we are moving like this? I would love to think that we have seen the last of the under $1 time with this stock. I see some resistance in the $1.40-$1.65 range on the chart, but not much. There is probably more resistance in the $1.80-$1.90 range.
David