Peering Into Diageo's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Diageo (NYSE:DEO) has experienced a 38.1% increase in short interest since its last report, with 1.65 million shares sold short, representing 0.29% of its float. It would take about 2.88 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Diageo's short interest is below its peer group average of 4.94%. This suggests less bearish sentiment compared to its peers, and increasing short interest can sometimes be a bullish indicator.
November 17, 2023 | 3:30 pm
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NEUTRAL IMPACT
Diageo's short interest has increased, but remains below the peer group average, potentially indicating less bearish sentiment among investors compared to its peers.
The increase in short interest for Diageo suggests that some investors are bearish. However, since the short interest is below the peer average, it does not necessarily indicate a strong bearish sentiment across the market. The impact on the stock price is uncertain, as increasing short interest can sometimes lead to a bullish outcome if a short squeeze occurs. Therefore, the score is neutral.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80