How Is The Market Feeling About United States Steel?
Portfolio Pulse from Benzinga Insights
United States Steel (NYSE:X) has seen a 3.1% decrease in short interest, with 13.18 million shares sold short, representing 5.94% of available shares. The short interest is higher than the peer group average of 4.28%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise.
December 08, 2023 | 5:30 pm
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United States Steel's short interest has decreased, which may suggest a more bullish sentiment among investors. However, this is not a definitive indicator of an imminent price increase.
A decrease in short interest typically indicates that investors are less bearish on a stock, which could lead to a potential increase in its price. However, the article suggests caution, as this is not a guaranteed predictor of near-term price movement. The higher short interest relative to peers could also mean there is more room for a short squeeze, but this is speculative.
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