Looking Into General Motors's Recent Short Interest
Portfolio Pulse from Benzinga Insights
General Motors (NYSE:GM) has seen a 13.4% increase in short interest since its last report, with 32.34 million shares sold short, representing 2.37% of its float. It would take about 1.85 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. GM's short interest is below its peer group average of 11.37%.
December 11, 2023 | 5:30 pm
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General Motors has experienced an increase in short interest, which could suggest bearish market sentiment but remains below the peer average, indicating a less negative outlook compared to its peers.
The rise in short interest for GM indicates 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 average, this may not be as significant a bearish indicator as it could be for other companies. The short-term impact is likely to be neutral as the market absorbs this information and considers other factors influencing GM's stock price.
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