Looking Into Illumina's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Illumina's (NYSE:ILMN) short percent of float has risen 23.74% since its last report, with 6.92 million shares sold short, which is 4.9% of all regular shares available for trading. This increase in short interest can indicate a bearish market sentiment towards the stock. However, Illumina's short interest is higher than most of its peers, which could potentially be bullish.
July 17, 2023 | 6:00 pm
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Illumina's short interest has increased, indicating a bearish sentiment. However, its higher short interest compared to peers could be a bullish sign.
The increase in short interest indicates that traders are expecting the price of Illumina's stock to fall, which is a bearish sign. However, the fact that Illumina's short interest is higher than most of its peers could indicate a potential short squeeze, which could drive the price up, a bullish sign. Therefore, the impact on the stock price in the short term is uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100