Looking Into ServiceNow's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ServiceNow's (NYSE:NOW) short percent of float has fallen 3.03% since its last report, with 2.60 million shares sold short, which is 1.28% of all regular shares available for trading. It would take traders 2.36 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 5.13% for its peer group.
September 04, 2023 | 3:45 pm
News sentiment analysis
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ServiceNow's short interest has decreased, indicating a potentially more bullish market sentiment towards the company. However, this does not necessarily mean the stock will rise in the near term.
Short interest is an indicator of market sentiment. A decrease in short interest could mean that investors are less bearish about the stock, potentially leading to an increase in the stock price. However, other factors also influence stock prices, so this does not guarantee a price increase.
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IMPORTANCE 70
RELEVANCE 100