Looking Into MongoDB's Recent Short Interest
Portfolio Pulse from Benzinga Insights
MongoDB's (NYSE:MDB) short percent of float has risen 3.85% since its last report, with 3.91 million shares sold short, which is 6.47% of all regular shares available for trading. This is higher than the average short interest of its peer group, which is 6.08%. Short interest can act as an indicator of market sentiment towards a stock.
July 20, 2023 | 2:45 pm
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MongoDB's short percent of float has increased, indicating a potentially bearish market sentiment. However, high short interest can sometimes be bullish.
An increase in short interest can indicate that investors are bearish on the stock, expecting its price to fall. However, if the stock price does not fall as expected, short sellers may have to buy back the stock to cover their positions, which can drive the price up. This is known as a short squeeze. Therefore, the impact on MongoDB's stock price is uncertain.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100