How Is The Market Feeling About AutoNation?
Portfolio Pulse from Benzinga Insights
AutoNation's (NYSE:AN) short percent of float has risen 4.07% since its last report, with 3.92 million shares sold short, which is 13.82% of all regular shares available for trading. This is higher than the average short interest of its peer group, which is 11.89%. Short interest can act as an indicator of market sentiment towards a stock, with an increase potentially signaling a more bearish sentiment.
August 29, 2023 | 2:01 pm
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AutoNation's short percent of float has increased, indicating a potentially bearish market sentiment. However, this does not necessarily mean the stock will fall in the near term.
An increase in short interest can indicate a bearish sentiment towards a stock, as it represents the number of shares sold short in anticipation of a price drop. However, this is not a guaranteed predictor of a stock's performance, and other factors should also be considered.
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