Peering Into Trade Desk's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Trade Desk (NYSE:TTD) has seen a 7.56% increase in short interest since the last report, with 12.35 million shares sold short, representing 3.13% of available shares. The average time to cover these short positions is 1.31 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Trade Desk has less short interest compared to its peer group average of 4.88%.
December 07, 2023 | 2:15 pm
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NEUTRAL IMPACT
Trade Desk's short interest has increased, which may indicate bearish sentiment among traders. However, it remains below the peer group average, suggesting less negative sentiment relative to its peers.
The increase in short interest for Trade Desk suggests that some investors are expecting the price to fall, which could lead to negative pressure on the stock price in the short term. However, since the short interest is below the peer group average, the sentiment might not be as bearish as it appears, and the impact on the stock price may be neutral. The confidence in this analysis is moderate due to the complexity of predicting market reactions to short interest levels.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80