How Is The Market Feeling About ServiceNow?
Portfolio Pulse from Benzinga Insights
ServiceNow's (NYSE:NOW) short percent of float has risen 5.69% since its last report, with 2.65 million shares sold short, which is 1.3% of all regular shares available for trading. It would take traders 3.02 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, ServiceNow's peer group average for short interest as a percentage of float is 5.22%, which means the company has less short interest than most of its peers.
October 24, 2023 | 1:30 pm
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ServiceNow's short percent of float has increased, indicating a potentially bearish sentiment. However, it has less short interest than most of its peers, suggesting a mixed market sentiment.
An increase in short interest can indicate a bearish sentiment towards a stock. However, ServiceNow's short interest is less than most of its peers, suggesting that the market sentiment is mixed. This could lead to volatility in the short term, but it's unclear whether the stock price will go up or down.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100