Why is this still so heavily shorted?

Just looking for a balanced discussion where we discuss the negatives along with the positives...

I bought in at $2 thinking things had turned. Seemingly others would be worse off than I am at the moment.

It's down nearly 25% in recent days, and nearly 70% of the recent high, in a space that seemingly has a huge future.

Surely it can't go much lower. If we can reduce costs going forward (which we should), we will be cash flow positive. Do shorters think that won't happen? Will graphite prices stay too low for us to ever be profitable?

What timeframe to shorters work with?