(NSC) - Analyzing Norfolk Southern's Short Interest
Portfolio Pulse from Benzinga Insights
Norfolk Southern's (NYSE:NSC) short interest has decreased by 7.09% since the last report, with 2.67 million shares sold short, representing 1.18% of available shares. The average time to cover these short positions is 1.87 days. Short interest is a market sentiment indicator, and a decrease suggests investors may be more bullish on NSC. Compared to its peers, NSC has a higher short interest percentage of float (1.18% vs. peer average of 0.94%).
November 14, 2023 | 4:45 pm
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POSITIVE IMPACT
Norfolk Southern's short interest has decreased, suggesting a more bullish sentiment among investors, which could lead to a potential short-term increase in stock price.
A decrease in short interest typically indicates that investors are less bearish on a stock, which can lead to an increase in its price. However, the article also suggests that this does not necessarily mean the stock will rise in the near term, hence the importance is not at the maximum. The confidence level is high due to the clear data on short interest but not at the maximum because the market can be unpredictable.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100