Peering Into RTX's Recent Short Interest
Portfolio Pulse from Benzinga Insights
RTX (NYSE:RTX) has experienced a significant increase in short interest, with a 1337.04% rise since the last report. The current short interest is 111.45 million shares, representing 7.76% of the float. This level of short interest is higher than the peer group average of 2.92%. While high short interest can indicate bearish sentiment, it does not necessarily predict a price drop and can sometimes be bullish.
November 13, 2023 | 2:30 pm
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RTX's short interest has surged, indicating a bearish sentiment among investors. However, this could also lead to a potential short squeeze if the stock price starts to rise, as traders cover their positions.
The significant rise in short interest for RTX suggests that investors are bearish on the stock. However, the impact on the stock price is uncertain as high short interest can lead to a short squeeze if the stock price increases, causing shorts to cover their positions and driving the price up further.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100