How Is The Market Feeling About Eli Lilly?
Portfolio Pulse from Benzinga Insights
Eli Lilly (NYSE:LLY) has seen a decrease in short interest, with a 5.41% drop since the last report, now standing at 5.52 million shares or 0.7% of float. It would take about 2.15 days to cover all short positions. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. Eli Lilly's short interest is below its peer group average of 4.35%. While a decline in short interest doesn't necessarily predict a stock price increase, it suggests fewer traders are betting against the stock.
December 21, 2023 | 6:15 pm
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Eli Lilly's short interest has decreased, indicating a more bullish sentiment among traders and potentially less downward pressure on the stock price in the short term.
A decrease in short interest typically suggests that traders are less bearish on a stock, which could reduce the likelihood of downward pressure on the stock price. Since Eli Lilly's short interest is also lower than its peer group average, this could be seen as a positive sign by investors, potentially leading to a short-term increase in the stock price.
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