How Is The Market Feeling About ON Semiconductor?
Portfolio Pulse from Benzinga Insights
ON Semiconductor (NYSE:ON) has seen a 5.43% rise in short interest since the last report, with 24.87 million shares sold short, representing 8.73% of available shares. The short interest is higher than the peer group average of 3.32%. While increased short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.
November 15, 2023 | 7:15 pm
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ON Semiconductor's short interest has increased, which may indicate bearish market sentiment but does not guarantee a near-term price decline.
While the increase in short interest for ON Semiconductor suggests that investors may be expecting the stock price to fall, it is not a definitive predictor of immediate price movement. The article also notes that high short interest can sometimes be bullish, indicating a potential for a short squeeze if the stock price were to rise unexpectedly.
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