How Is The Market Feeling About AbbVie?
Portfolio Pulse from Benzinga Insights
AbbVie Inc. (NYSE:ABBV) has experienced a 15.38% increase in short interest since its last report, with 13.23 million shares sold short, representing 0.75% of its float. The current short interest suggests a bearish sentiment among investors, although it is lower than the peer group average of 4.40%. It would take approximately 2.21 days for traders to cover their short positions based on average trading volume.
November 24, 2023 | 1:45 pm
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AbbVie's increased short interest indicates a bearish market sentiment, but it remains below the peer group average. This could lead to increased volatility in the short term.
While the rise in short interest for AbbVie suggests that some investors are expecting the price to fall, the fact that it is below the peer average could mean that the sentiment is not as negative as it could be. The short-term impact is likely to be neutral, as the market may have already priced in this sentiment, and the article does not suggest an immediate catalyst for a price drop.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80