This Is What Whales Are Betting On Marvell Tech
Portfolio Pulse from Benzinga Insights
A large bearish position on Marvell Tech (NASDAQ:MRVL) has been spotted, with 57% of big-money traders showing bearish sentiment. Whales have been targeting a price range of $37.5 to $60.0 for Marvell Tech over the last 3 months. Oppenheimer downgraded its action to Outperform with a price target of $70.
May 19, 2023 | 6:46 pm
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A large bearish position has been spotted on Marvell Tech, with 57% of big-money traders showing bearish sentiment. Whales have been targeting a price range of $37.5 to $60.0 for Marvell Tech over the last 3 months.
The large bearish position on Marvell Tech indicates that big-money traders expect the stock price to decline in the short term. With 57% of these traders showing bearish sentiment and whales targeting a price range of $37.5 to $60.0, it is likely that the stock price will be negatively impacted in the short term. Additionally, Oppenheimer's downgrade to Outperform with a price target of $70 may also contribute to the bearish sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100