How Is The Market Feeling About Snowflake?
Portfolio Pulse from Benzinga Insights
Snowflake's (NYSE:SNOW) short percent of float has fallen 15.61% since its last report, indicating a decrease in bearish sentiment. The company has 9.29 million shares sold short, which is 2.92% of all regular shares available for trading. Compared to its peers, Snowflake has less short interest as a percentage of float, with an average of 5.55%.
September 27, 2023 | 4:30 pm
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POSITIVE IMPACT
Decrease in short interest indicates less bearish sentiment towards Snowflake. This could potentially lead to a more stable stock price in the short term.
Short interest is a measure of market sentiment. A decrease in short interest indicates that fewer investors are betting on the stock's price to fall, which could potentially lead to a more stable or even rising stock price in the short term. Given that Snowflake's short interest is lower than its peers, it suggests that the market sentiment towards Snowflake is less bearish compared to other similar companies.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100