How Is The Market Feeling About Cencora?
Portfolio Pulse from Benzinga Insights
Cencora (NYSE:COR) has seen a 3.05% increase in short interest since the last report, with 5.97 million shares sold short, representing 3.72% of available shares. It would take about 5.17 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Cencora's short interest is below its peer group average of 4.79%.
November 17, 2023 | 8:00 pm
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NEUTRAL IMPACT
Cencora's increased short interest suggests bearish sentiment, but it's still below the peer average. This may not affect the stock price in the short term.
While the increase in short interest for Cencora indicates a more bearish outlook from investors, the fact that it is below the peer group average and the article suggests that this does not necessarily predict a near-term price drop, leads to a neutral short-term impact score. The relevance is high as the article is directly about Cencora's short interest. The importance is moderate because short interest is just one of many factors that can affect stock price. The confidence level is set at 75 due to the uncertainty of market reactions to changes in short interest.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 100