Peering Into Atlassian's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Atlassian Corporation Plc (NYSE:TEAM) has seen a decrease in short interest, with the short percent of float dropping 8.06% since the last report. The company has 3.01 million shares sold short, representing 1.94% of available shares. The average time to cover these short positions is 2.28 days. Short interest is a measure of market sentiment, and a decrease suggests investors may be more bullish on the stock. Atlassian's short interest is below its peer group average of 3.31%.
December 26, 2023 | 3:00 pm
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Atlassian's short interest has decreased, indicating a potentially more bullish sentiment among investors. With a lower short interest compared to its peers, this could suggest confidence in the company's performance.
A decrease in short interest typically indicates that investors are less bearish on a stock, which can lead to an increase in its price. Since Atlassian's short interest is lower than its peers, this might be viewed positively by the market, potentially leading to a short-term price increase.
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