Looking Into GLOBALFOUNDRIES's Recent Short Interest
Portfolio Pulse from Benzinga Insights
GLOBALFOUNDRIES (NYSE:GFS) has experienced a 10.18% decrease in short interest since its last report, with 11.74 million shares sold short, representing 14.03% of its float. The average time to cover these short positions is 5.64 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. However, this does not necessarily predict a near-term rise in the stock price. Compared to its peers, GFS has a higher short interest as a percentage of float, which is 3.15% on average.
November 29, 2023 | 3:30 pm
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GLOBALFOUNDRIES's short interest has decreased, which could indicate a more bullish sentiment among investors. However, the high short interest relative to peers suggests caution.
While a decrease in short interest can be a positive sign for a stock, suggesting that investors are less bearish, it does not guarantee an increase in the stock price. The fact that GFS has a higher short interest than its peers could still be a cause for concern among investors. The impact on the stock price in the short term is uncertain, hence a neutral score is given.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100