This Is What Whales Are Betting On Cisco Systems
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Cisco Systems (NASDAQ:CSCO), with 58% of recent trades being bearish. The majority of trades are puts, totaling $2,527,535, compared to $642,791 in calls. Whales have been targeting a price range from $42.5 to $57.5 for Cisco Systems over the last 3 months. The current price of CSCO is down -3.89% at $53.34. B of A Securities maintains a Neutral rating on Cisco Systems with a price target of $60.
September 21, 2023 | 8:49 pm
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Bearish stance taken on Cisco Systems with majority of trades being puts. Whales targeting price range of $42.5-$57.5. Current price down -3.89% at $53.34.
The bearish stance taken by a significant investor, along with the majority of trades being puts, indicates a negative sentiment towards Cisco Systems. This, coupled with the current price drop, suggests a potential short-term negative impact on the stock.
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