How Is The Market Feeling About Copart?
Portfolio Pulse from Benzinga Insights
Copart (NYSE:CPRT) has seen a decrease in short interest, with the short percent of float dropping 5.22% since the last report. The company has 8.46 million shares sold short, which is 1.09% of available shares for trading. The average time to cover these short positions is 2.27 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Copart's short interest is below its peer group average of 3.24%.
November 22, 2023 | 1:15 pm
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Copart's decrease in short interest suggests a more bullish market sentiment, which could lead to a potential short-term increase in stock price as the market reacts to the reduced bearish outlook.
The reduction in short interest for Copart indicates that fewer traders are betting against the stock, which could lead to less selling pressure and a potential increase in the stock price in the short term. However, the article also cautions that this does not necessarily mean the stock will rise, so while the sentiment is more bullish, the impact is not guaranteed.
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