(MMM) - Analyzing 3M's Short Interest
Portfolio Pulse from Benzinga Insights
3M's (NYSE:MMM) short percent of float has risen 7.41% since its last report, with 12.76 million shares sold short, which is 2.32% of all regular shares available for trading. This is higher than the average short interest of its peer group, which is 1.86%. Short interest can act as an indicator of market sentiment towards a particular stock.
October 12, 2023 | 3:15 pm
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3M's short percent of float has risen, 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 drive the stock price up in the short term. Therefore, the impact on 3M's stock price could be neutral in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100