Peering Into Philip Morris Intl's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Philip Morris Intl's (NYSE:PM) short percent of float has risen 21.21% since its last report, with 6.24 million shares sold short, which is 0.4% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. However, compared to its peers, Philip Morris has less short interest as a percentage of float, which is 1.73% on average.
July 19, 2023 | 2:00 pm
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Philip Morris Intl's short interest has increased, indicating a bearish market sentiment. However, it has less short interest compared to its peers.
An increase in short interest usually indicates a bearish sentiment towards the stock, as traders are expecting the price to fall. However, the fact that Philip Morris has less short interest compared to its peers could mean that the market is less bearish on PM than on other similar companies.
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