How Is The Market Feeling About Micron Technology?
Portfolio Pulse from Benzinga Insights
Micron Technology (NYSE:MU) has seen a 4.47% increase in short interest since the last report, with 20.47 million shares sold short, representing 1.87% of available shares. It would take about 1.65 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Micron's short interest is below its peer group average of 3.71%.
December 07, 2023 | 2:15 pm
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Micron Technology's increased short interest may indicate bearish sentiment, but it remains below the peer average, suggesting a less negative outlook compared to its peers.
The increase in short interest for Micron Technology suggests that some investors are expecting the stock price to decline. However, since the short interest is below the peer average, it may not be as significant a bearish indicator as it would be if it were above the average. The short-term impact is likely to be neutral as the article does not provide any definitive evidence that the stock will fall, and increased short interest can sometimes be a contrarian bullish signal.
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