How Is The Market Feeling About Marathon Petroleum?
Portfolio Pulse from Benzinga Insights
Marathon Petroleum (NYSE:MPC) has seen a 5.75% rise in short interest since the last report, with 10.47 million shares sold short, representing 2.76% of available shares. It would take about 3.67 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Compared to its peers, MPC has a lower short interest as a percentage of float (2.76% vs. peer average of 8.47%).
December 12, 2023 | 1:15 pm
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NEUTRAL IMPACT
Marathon Petroleum's short interest has increased, which may indicate bearish sentiment among investors. However, its short interest is still below the peer group average, suggesting less negative sentiment relative to its peers.
The rise in short interest could be seen as a negative signal, potentially leading to a short-term price decline. However, since MPC's short interest is below the peer average, the impact may be muted. The market's reaction to changes in short interest can be unpredictable, hence the neutral score.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80