How Is The Market Feeling About Pinterest?
Portfolio Pulse from Benzinga Insights
Pinterest (NYSE:PINS) has seen a 54.8% increase in short interest since the last report, with 35.76 million shares sold short, representing 6.13% of available shares. The short interest ratio is 2.81 days to cover. While high short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. Pinterest's short interest is slightly below its peer group average of 6.14%. Short interest can sometimes be a bullish indicator, suggesting a potential for a short squeeze.
December 08, 2023 | 5:00 pm
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Pinterest's increased short interest may indicate bearish market sentiment, but it's slightly below the peer average, suggesting a neutral to potentially bullish outlook if a short squeeze occurs.
The rise in short interest for Pinterest suggests that investors may be expecting the price to fall, which is typically a bearish sign. However, since the short interest is below the peer average, it does not indicate a strong bearish sentiment compared to its peers. Additionally, high short interest can sometimes lead to a short squeeze, which would drive the price up if the stock moves positively, adding a level of uncertainty to the direction of the stock price.
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