Peering Into 3M's Recent Short Interest
Portfolio Pulse from Benzinga Insights
3M's (NYSE:MMM) short percent of float has fallen 7.73% since its last report, with 10.50 million shares sold short, which is 1.91% of all regular shares available for trading. This decrease in short interest could signal a more bullish sentiment towards the stock. However, 3M's short interest as a percentage of float is higher than its peer group average of 1.43%.
August 16, 2023 | 4:00 pm
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3M's short percent of float has decreased, potentially indicating a more bullish sentiment towards the stock. However, its short interest is higher than its peer group average.
A decrease in short interest can signal a more bullish sentiment towards a stock, which could potentially lead to an increase in its price. However, the fact that 3M's short interest is higher than its peer group average could indicate that there is still a significant amount of bearish sentiment towards the stock. Therefore, the impact on the stock's price in the short term is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100