Peering Into Home Depot's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Home Depot's (NYSE:HD) short percent of float has risen 12.5% since its last report, with 9.89 million shares sold short, which is 0.99% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. However, compared to its peers, Home Depot has less short interest as a percentage of float, which is 15.59% on average.
September 11, 2023 | 3:15 pm
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The rise in short interest in Home Depot's stock indicates a bearish sentiment among traders. However, compared to its peers, the company has less short interest, which could be a positive sign.
The increase in short interest indicates that more traders are betting that Home Depot's stock price will fall. This could put downward pressure on the stock in the short term. However, the fact that Home Depot's short interest is less than its peers' average could indicate that the stock is less likely to fall compared to its peers.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100