Looking Into Salesforce's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Salesforce's (NYSE:CRM) short percent of float has risen 10.75% since its last report, with 9.64 million shares sold short, which is 1.03% of all regular shares available for trading. It would take traders 1.82 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Salesforce's peer group average for short interest as a percentage of float is 3.37%, which means the company has less short interest than most of its peers.
July 28, 2023 | 5:30 pm
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Salesforce's short percent of float has increased, indicating a bearish sentiment among investors. However, it has less short interest than most of its peers.
The increase in short percent of float indicates that more investors are betting against Salesforce, which could put downward pressure on the stock. However, the fact that Salesforce has less short interest than most of its peers could mitigate this effect.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100