Peering Into Adobe's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Adobe's (NASDAQ:ADBE) short percent of float has fallen 3.1% since its last report, with 5.70 million shares sold short, which is 1.25% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards Adobe. Compared to its peers, Adobe has less short interest as a percentage of float, with an average of 3.51%.
June 28, 2023 | 3:30 pm
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POSITIVE IMPACT
Adobe's short percent of float has decreased, indicating a more bullish sentiment. This could potentially lead to a positive impact on Adobe's stock price in the short term.
A decrease in short interest often indicates a more bullish sentiment towards a stock. This is because short selling is a practice where traders sell shares they do not own, hoping the price will fall. Therefore, a decrease in short interest could mean fewer traders are expecting Adobe's stock price to fall, which could potentially lead to a positive impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100