How Is The Market Feeling About DexCom?
Portfolio Pulse from Benzinga Insights
DexCom's (NYSE:DXCM) short percent of float has risen 20.99% since its last report, with 15.00 million shares sold short, which is 4.38% of all regular shares available for trading. It would take traders 4.31 days to cover their short positions on average. DexCom's peer group average for short interest as a percentage of float is 3.09%, indicating the company has more short interest than most of its peers.
August 11, 2023 | 1:15 pm
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NEUTRAL IMPACT
DexCom's short percent of float has increased significantly, indicating a bearish sentiment among traders. However, high short interest can sometimes lead to a short squeeze, causing the stock price to rise.
An increase in short interest indicates that more traders are betting that DexCom's stock price will fall. However, if the stock price starts to rise, these traders may be forced to buy shares to cover their short positions, causing a short squeeze and potentially driving the price up further. Therefore, the impact on the stock price is uncertain in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100