Peering Into Freeport-McMoRan's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Freeport-McMoRan's (NYSE:FCX) short percent of float has fallen 10.45% since its last report, with 17.16 million shares sold short, which is 1.2% of all regular shares available for trading. This decrease in short interest could signal a more bullish sentiment towards the stock. However, it does not necessarily mean that the stock price will rise in the near term. Compared to its peers, Freeport-McMoRan has less short interest.
July 24, 2023 | 2:45 pm
News sentiment analysis
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NEUTRAL IMPACT
Decrease in short interest in Freeport-McMoRan could indicate a more bullish sentiment towards the stock. However, it doesn't guarantee a near-term stock price rise.
Short interest is the number of shares sold short but not yet covered. A decrease in short interest can signal a more bullish sentiment towards a stock. However, this does not necessarily mean that the stock price will rise in the near term. Therefore, while the news is highly relevant to FCX, its impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100