(FCX) - Analyzing Freeport-McMoRan's Short Interest
Portfolio Pulse from Benzinga Insights
Freeport-McMoRan (NYSE:FCX) has seen a 3.33% increase in short interest since the last report, with 17.69 million shares sold short, representing 1.24% of available shares. The short interest is below the peer group average of 4.07%. An increase in short interest can indicate bearish market sentiment but can also be a bullish sign as explained by Benzinga Money.
November 29, 2023 | 5:30 pm
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Freeport-McMoRan's short interest has increased, which could indicate bearish sentiment, but it remains below the peer average, potentially limiting negative impact.
While an increase in short interest typically suggests that investors are bearish on the stock, the fact that FCX's short interest is below the peer group average could mitigate any negative impact. Additionally, the concept that increasing short interest can be bullish adds complexity to the potential impact on the stock price.
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IMPORTANCE 60
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