How Is The Market Feeling About MongoDB?
Portfolio Pulse from Benzinga Insights
MongoDB's (NYSE:MDB) short percent of float has fallen 9.3% since its last report, indicating a decrease in bearish sentiment. The company has 3.58 million shares sold short, which is 5.85% of all regular shares available for trading. This is higher than the average short interest of its peer group, which stands at 5.41%.
October 25, 2023 | 5:15 pm
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POSITIVE IMPACT
The decrease in short interest in MongoDB suggests less bearish sentiment among traders, which could potentially lead to a rise in the stock's price in the short term.
Short interest is a measure of market sentiment towards a particular stock. A decrease in short interest indicates that fewer traders are betting on the stock's price to fall, which could suggest a more bullish sentiment and potentially lead to a rise in the stock's price. MongoDB's short interest is higher than its peer group average, which could indicate a stronger potential for price increase compared to its peers.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100