Looking Into Advanced Micro Devices's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Advanced Micro Devices (NYSE:AMD) has seen a 30.1% increase in short interest since its last report, with 40.90 million shares sold short, representing 2.55% of its float. It would take about 1.0 trading day to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. AMD's short interest is below its peer group average of 3.67%.
November 29, 2023 | 1:30 pm
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AMD's short interest has increased, which may indicate bearish sentiment among investors but is still below the peer group average. This could lead to increased volatility in the short term.
While the increase in short interest suggests that some investors are expecting the price of AMD to fall, the fact that it is below the peer group average and the short interest can be covered in one trading day suggests that there may not be a significant impact on the stock price in the short term. However, investors should be aware of the potential for increased volatility.
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