Potash Price is currenty finishing its bottoming process around 200 a T, far off from the previous highs of 1000+ T last cycle. I would expect the underlying fundamentals of a excessive demand globally to benefit $IPI bottom line and its valuation.
Technicals : I believe $IPI to be setting up for a breakout move, as we will also see a transition to commodity sectors starting any day, so $IPI should benefit as well from that exposure.
The chart is signaling a breakout over the 2.60 and 3 level to come in the short term, with 9% short interest I believe a 3 dollar break could send this over 100-200% rather quickly.
This is my first Idea I posted here, Its all my opinion and you should do your own research, none of this should be construed as investment advice.
I am currently long in IPI or will be very soon , and my position might change at any time.