How Is The Market Feeling About Microchip Technology?
Portfolio Pulse from Benzinga Insights
Microchip Technology's (NYSE:MCHP) short percent of float has risen 4.3% since its last report, with 16.99 million shares sold short, which is 3.64% of all regular shares available for trading. This increase in short interest can signal that investors have become more bearish. However, increasing short interest can also be bullish for a stock. Microchip Technology's peer group average for short interest as a percentage of float is 3.52%, indicating the company has more short interest than most of its peers.
November 06, 2023 | 7:15 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Microchip Technology's short percent of float has increased, indicating potential bearish sentiment. However, high short interest can also lead to a short squeeze, which could be bullish.
An increase in short interest can indicate bearish sentiment, as investors are betting on the stock's price to fall. However, if the stock's price increases instead, short sellers may be forced to buy back the stock to cover their positions, leading to a short squeeze and potentially driving the price up further. Therefore, the impact on MCHP's stock price could go either way in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100