How Is The Market Feeling About Philip Morris Intl?
Portfolio Pulse from Benzinga Insights
Philip Morris Intl (NYSE:PM) has seen a decrease in short interest, with the short percent of float dropping 8.57% since the last report. The company has 4.98 million shares sold short, representing 0.32% of available shares. The average time to cover these short positions is 1.52 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, PM has a lower short interest as a percentage of float, with the peer group average at 1.99%.
December 18, 2023 | 4:30 pm
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Philip Morris Intl's short interest has decreased, which may suggest a more bullish sentiment among investors. The company's short interest is below the peer group average, potentially indicating a positive outlook compared to its competitors.
The reduction in short interest for Philip Morris Intl suggests that investors are becoming more optimistic about the company's stock. This could lead to a short-term increase in the stock price as the market sentiment appears to be shifting in a positive direction. The comparison with peers further strengthens the case for potential bullishness, as PM has a lower percentage of shares shorted than the average of its peer group.
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