How Is The Market Feeling About Qualcomm?
Portfolio Pulse from Benzinga Insights
Qualcomm (NYSE:QCOM) has seen a 26.56% increase in short interest since its last report, with 17.99 million shares sold short, representing 1.62% of available shares. It would take 1.71 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Qualcomm's short interest is below its peer group average of 3.72%.
December 11, 2023 | 6:00 pm
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Qualcomm's increased short interest suggests bearish market sentiment, but with short interest below peer average, the impact may be muted.
While the rise in short interest for Qualcomm indicates a more bearish sentiment among traders, the fact that it is still below the peer group average suggests that the sentiment is not overwhelmingly negative. The short-term impact on the stock price is likely to be neutral as the market may have already priced in this sentiment, and the article does not suggest an immediate catalyst for a price drop.
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