(ABBV) - Analyzing AbbVie's Short Interest
Portfolio Pulse from Benzinga Insights
AbbVie's (NYSE:ABBV) short percent of float has risen 15.38% since its last report, with 13.26 million shares sold short, which is 0.75% of all regular shares available for trading. It would take traders 3.35 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. AbbVie's peer group average for short interest as a percentage of float is 3.85%, which means the company has less short interest than most of its peers.
September 08, 2023 | 2:45 pm
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AbbVie'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 AbbVie, which could put downward pressure on the stock price in the short term. However, the fact that AbbVie has less short interest than most of its peers could mitigate this effect to some extent.
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IMPORTANCE 75
RELEVANCE 100