I've had a go trying to show how which Vanadium companies in the sector have held up better than others in the past 6-12 months slaughter. I think this shows that a few were pumped way higher than they deserved (especially considering they peaked well before V prices peaked) with a few requiring ~5x gains (6x current price) to reach their 12 month high.
TNO is currently sitting 1.3x gains from the high (2.3x current price) which is much better than average and best of the lot. Also interesting that it is clearly the best performer since the lows hit so I think it has shown very significant strength relative to the sector and perhaps this will continue, which holders would be anticipating based on expected news flow in coming weeks/months.
They say those that are more resilient during difficult times are more likely to prosper in favourable conditions.
Based on this I think the market is saying that the top 4/5 are the only ones with a fighting chance of doing well long term, and out of these, TNO is the clear front runner at the moment.
*Obviously this data is taken form a single point in time and there are many factors at play including day to day price variance, but it is impossible to account for all (even most) of these factors and it isn't necessarily that relevant to do so as the actual performance of the shareprice is ultimately what matters to investors most. My intention was to see which companies had appeared to bounce from lows and which ones had been more resilient during the drop as I feel that this is an indicator of comparative strength.
