Peering Into Abbott Laboratories's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Abbott Laboratories (NYSE:ABT) has seen a 22.81% increase in short interest since its last report, with 12.08 million shares sold short, representing 0.7% of its float. It would take about 2.19 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Compared to its peers, Abbott has less short interest, with a peer average of 3.77% of float.
December 01, 2023 | 6:00 pm
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Abbott Laboratories has experienced a significant rise in short interest, but it remains below the peer group average. This could indicate bearish sentiment but isn't a clear-cut sign of future performance.
The increase in short interest suggests that some investors are bearish on ABT. However, since the short interest is below the peer average, it doesn't necessarily predict a decline in stock price. The impact is neutral as the market may have already priced in this sentiment, and short interest alone is not a reliable indicator of future performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100