Looking Into Sanofi's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Sanofi (NYSE:SNY) has experienced an 11.11% increase in short interest since its last report, with 5 million shares sold short, representing 0.2% of its float. The current short interest suggests a bearish sentiment among traders, although it is lower than the peer group average of 3.94%. The short interest level indicates it would take 1.43 days to cover all short positions.
November 13, 2023 | 2:30 pm
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Sanofi's short interest has increased, indicating a bearish market sentiment. However, it remains below the peer average, which could suggest relative strength or resilience.
The rise in short interest typically indicates that investors are expecting the price to fall, which could lead to downward pressure on the stock in the short term. However, the fact that Sanofi's short interest is below the peer average might mitigate the impact, as it suggests that the market may not be as bearish on Sanofi compared to its peers.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80