Looking Into Southern Copper's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Southern Copper (NYSE:SCCO) has seen a 15.14% increase in short interest since its last report, with 5.56 million shares sold short, representing 6.54% of its float. The short interest is higher than the peer group average of 3.63%. While an increase in short interest can indicate bearish sentiment, it can also be a bullish sign as explained in a Benzinga Money post.
November 27, 2023 | 7:15 pm
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Southern Copper's short interest has increased significantly, which may indicate bearish market sentiment but can also be interpreted as a potential bullish sign.
The rise in short interest for Southern Copper suggests that more investors are betting against the stock, which typically indicates bearish sentiment. However, high short interest can also lead to a short squeeze if the stock price starts to rise, which would be bullish. The impact is neutral in the short term as the article suggests that the increase in short interest does not necessarily mean the stock will fall.
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