Peering Into Micron Technology's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Micron Technology (NYSE:MU) has seen a decrease in short interest, with the short percent of float dropping 6.77% since the last report. The company has 19.64 million shares sold short, which is 1.79% of available shares, taking traders 1.69 days to cover on average. This decline in short interest may indicate a more bullish sentiment among investors, although it does not necessarily predict a near-term price rise. Micron's short interest is below its peer group average of 3.64%.
November 14, 2023 | 4:45 pm
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Micron Technology's short interest has decreased, potentially indicating a bullish sentiment from investors. The company's short interest is lower than the peer group average.
A decrease in short interest typically suggests that investors are less bearish on the stock, which could lead to a short-term increase in its price. However, the impact on the stock price is not guaranteed and will depend on broader market conditions and company performance. Micron's lower short interest compared to its peers further supports the potential for a positive impact.
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