Check Out What Whales Are Doing With BLK
Portfolio Pulse from Benzinga Insights
A large bearish position on BlackRock (NYSE:BLK) has been observed, with 72% of big-money traders showing bearish sentiment. Whales have been targeting a price range of $320 to $1000 for BlackRock over the last 3 months. Citigroup downgraded its action to Buy with a price target of $750.
June 05, 2023 | 7:47 pm
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NEGATIVE IMPACT
A large bearish position has been observed in BlackRock (NYSE:BLK), with 72% of big-money traders showing bearish sentiment. Citigroup downgraded its action to Buy with a price target of $750.
The large bearish position observed in BlackRock indicates that big-money traders expect the stock price to decline in the short term. Additionally, Citigroup's downgrade to Buy with a price target of $750 suggests that the stock may be overvalued at its current price. These factors combined lead to a negative short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100