Looking Into Discover Finl's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Discover Financial Services (NYSE:DFS) has seen a 24.7% decrease in short interest since its last report, with 5.26 million shares sold short, representing 2.47% of its float. The average time to cover these short positions is 3.07 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, DFS has a lower short interest as a percentage of float, with the peer group average at 8.53%.
December 27, 2023 | 4:15 pm
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Discover Financial Services' short interest has decreased, which may suggest a more bullish sentiment among investors and could lead to a potential short-term increase in stock price.
A decrease in short interest typically suggests that investors are less bearish on the stock, which could lead to less selling pressure and potentially a rise in the stock price. However, short interest is just one indicator and does not guarantee stock movement.
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