Looking Into Broadcom's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Broadcom Inc. (NYSE:AVGO) has seen a significant decrease in short interest, with a 27.17% drop since the last report. The current short interest stands at 4.73 million shares, or 1.26% of the float, with a short-covering time of 1.25 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average of 3.70% short interest as a percentage of float.
December 27, 2023 | 8:00 pm
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Broadcom's short interest has significantly decreased, which could suggest a more bullish sentiment among investors and 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 a stock, which can lead to an increase in stock price as the market sentiment improves. Since Broadcom's short interest is now lower than its peers, this could be taken as a positive sign by the market, potentially leading to a short-term uptick in AVGO's stock price.
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