Peering Into Sysco's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Sysco Corporation (NYSE:SYY) has experienced a 6.43% increase in short interest since its last report, with 7.49 million shares sold short, representing 1.49% of its float. The average time to cover these short positions is 2.6 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Sysco's short interest is below its peer group average of 4.20%.
November 28, 2023 | 7:45 pm
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Sysco's increased short interest suggests bearish market sentiment, but it remains below the peer average, which may mitigate negative impact.
The rise in short interest indicates that investors may be expecting a price decline in Sysco's stock. However, since the short interest is below the peer average, it may not have a significant impact on the stock price in the short term. The market may have already priced in this sentiment, and the actual effect on the stock will depend on upcoming news, earnings reports, and broader market trends.
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