(NEM) - Analyzing Newmont's Short Interest
Portfolio Pulse from Benzinga Insights
Newmont's (NYSE:NEM) short percent of float has risen 6.37% since its last report, with 28.15 million shares sold short, which is 4.01% of all regular shares available for trading. It would take traders 3.98 days to cover their short positions on average. The company has more short interest than most of its peers, with an average of 2.91%.
September 08, 2023 | 3:45 pm
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Newmont's short percent of float has increased, indicating a bearish sentiment among traders. However, high short interest can sometimes be bullish.
An increase in short interest indicates that more traders are betting that the stock price will fall. However, this can sometimes lead to a short squeeze, where the stock price actually increases as traders rush to cover their short positions. Therefore, the impact on the stock price is uncertain.
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