How Is The Market Feeling About Allstate?
Portfolio Pulse from Benzinga Insights
Allstate's (NYSE:ALL) short percent of float has risen 9.26% since its last report, with 3.09 million shares sold short, which is 1.18% of all regular shares available for trading. This increase in short interest can signal that investors have become more bearish. However, Allstate's peer group average for short interest as a percentage of float is 2.92%, which means the company has less short interest than most of its peers.
July 04, 2023 | 2:46 pm
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Allstate's short percent of float has increased, indicating a bearish sentiment among investors. However, compared to its peers, Allstate has less short interest.
The increase in Allstate's short percent of float indicates that investors are expecting the stock price to fall. However, the fact that Allstate has less short interest than most of its peers could mean that the bearish sentiment is not as strong as it seems. This could potentially limit the downside risk for Allstate's stock in the short term.
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