Peering Into PayPal Holdings's Recent Short Interest
Portfolio Pulse from Benzinga Insights
PayPal Holdings (NYSE:PYPL) has seen an 8.98% increase in short interest since its last report, with 19.62 million shares sold short, representing 1.82% of available shares. The short interest now takes approximately 1.11 days to cover. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. PayPal's short interest is below its peer group average of 6.03%.
November 29, 2023 | 4:15 pm
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NEUTRAL IMPACT
PayPal's increased short interest suggests bearish sentiment, but it remains below the peer average. This could indicate a potential for short squeeze if the market sentiment shifts positively.
The increase in short interest for PayPal indicates a bearish outlook from traders, but since it's below the peer average, it doesn't necessarily imply a significant negative impact. The short interest could lead to a short squeeze if positive news or sentiment arises, which would be bullish for the stock. However, the article suggests that the rise in short interest alone is not a reliable predictor of near-term price movement, hence the neutral score.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100