Peering Into 3M's Recent Short Interest
Portfolio Pulse from Benzinga Insights
3M's (NYSE:MMM) short percent of float has risen 9.09% since its last report, with 11.90 million shares sold short, which is 2.16% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. Comparatively, 3M's peer group average for short interest as a percentage of float is 1.49%, indicating that the company has more short interest than most of its peers.
September 25, 2023 | 5:45 pm
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3M's short percent of float has increased, indicating a bearish market sentiment. However, high short interest can sometimes be bullish.
An increase in short interest usually indicates a bearish sentiment towards the stock. However, it's important to note that high short interest can sometimes lead to a short squeeze, which can be bullish for the stock. Therefore, the impact on 3M's stock price in the short term is uncertain.
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