(DE) - Analyzing Deere's Short Interest
Portfolio Pulse from Benzinga Insights
Deere & Company's (NYSE:DE) short interest has increased by 6.93% since the last report, with 3.11 million shares sold short, representing 1.08% of available shares. It would take about 2.32 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Deere's short interest is below its peer group average of 2.77%.
December 05, 2023 | 1:30 pm
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Deere's increased short interest suggests a bearish market sentiment, but it remains below the peer average, indicating a less negative outlook compared to its peers.
The rise in short interest for Deere indicates a bearish sentiment, but since it's below the peer average, the impact may be muted. Short interest alone doesn't dictate stock movement, and the article suggests caution rather than predicting a price drop.
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