Looking Into ServiceNow's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ServiceNow's (NYSE:NOW) short percent of float has risen 7.44% since its last report, with 2.66 million shares sold short, which is 1.3% of all regular shares available for trading. It would take traders 1.75 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. ServiceNow's peer group average for short interest as a percentage of float is 5.02%, which means the company has less short interest than most of its peers.
November 10, 2023 | 1:15 pm
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ServiceNow's short percent of float has increased, indicating a potentially bearish sentiment among investors. However, compared to its peers, the company has less short interest.
An increase in short interest can indicate a bearish sentiment among investors, which could potentially lead to a decrease in the stock's price. However, ServiceNow has less short interest than most of its peers, which could mitigate some of the potential negative impact.
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