Looking Into American Tower's Recent Short Interest
Portfolio Pulse from Benzinga Insights
American Tower (NYSE:AMT) has seen a 24.32% increase in short interest since its last report, with 5.55 million shares sold short, representing 1.38% of its float. It would take about 2.14 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, AMT has a lower short interest as a percentage of float, with the peer group average at 4.55%.
November 23, 2023 | 6:15 pm
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NEUTRAL IMPACT
American Tower's short interest has increased, which may indicate bearish sentiment, but it remains below the peer group average. This could lead to increased volatility in the short term.
The increase in short interest suggests that some investors are expecting the price of AMT to fall, which could lead to short-term volatility. However, since the short interest is lower than its peers, it may not be a strong bearish signal. The impact on the stock price is uncertain, hence a neutral score is given.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80