How Is The Market Feeling About IDEXX Laboratories?
Portfolio Pulse from Benzinga Insights
IDEXX Laboratories's (NYSE:IDXX) short percent of float has risen 3.61% since its last report, with 2.75 million shares sold short, which is 3.73% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a stock. The company's short interest is higher than its peer group average of 3.34%.
November 06, 2023 | 5:15 pm
News sentiment analysis
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NEGATIVE IMPACT
The increase in short interest in IDEXX Laboratories indicates a bearish market sentiment towards the stock. However, high short interest can sometimes be bullish, as it provides potential for a short squeeze.
Short interest is the number of shares that have been sold short but have not yet been covered. An increase in short interest can indicate that investors are expecting the price of the stock to fall, hence the negative score. However, if the stock price increases instead, short sellers may be forced to buy back the shares at a higher price to cover their positions, leading to a short squeeze and a potential increase in the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100