How Is The Market Feeling About Kenvue?
Portfolio Pulse from Benzinga Insights
Kenvue (NYSE:KVUE) has seen an 11.46% rise in short interest since the last report, with 19.65% of its float shorted, representing 39.04 million shares. The short interest is higher than the peer group average of 6.09%. While high short interest can indicate bearish sentiment, it can also be a bullish sign as it may lead to a short squeeze if the stock price increases.
December 18, 2023 | 7:30 pm
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Kenvue's significant rise in short interest could lead to increased volatility and a potential short squeeze if the stock price starts to rise, as traders cover their positions.
The high level of short interest in Kenvue suggests that the market is bearish on the stock. However, if the stock price were to increase, it could trigger a short squeeze as short sellers rush to cover their positions, potentially driving the price up further in the short term.
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