Looking Into ServiceNow's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ServiceNow (NYSE:NOW) has seen a 6.0% decrease in short interest since its last report, with 2.89 million shares sold short, representing 1.41% of its float. The average time to cover these short positions is 2.63 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. ServiceNow's short interest is below its peer group average of 4.69%.
December 26, 2023 | 1:15 pm
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ServiceNow's short interest has decreased, which may suggest a more bullish sentiment among investors and could potentially lead to a short-term positive impact on the stock price.
A decrease in short interest typically indicates that investors are less bearish on the stock, which can lead to a positive impact on the stock price in the short term. However, short interest is just one of many factors that can affect stock prices, and the article does not guarantee a price rise. The confidence level is not at 100 because market sentiment can be unpredictable and influenced by various external factors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100