How Is The Market Feeling About Block?
Portfolio Pulse from Benzinga Insights
Block (NYSE:SQ) has seen an 8.64% increase in short interest since its last report, with 22.83 million shares sold short, representing 4.15% of available shares. It would take 2.23 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, Block has less short interest compared to its peer group average of 5.96%. This data does not necessarily predict a near-term price fall but suggests traders are shorting more shares.
December 28, 2023 | 2:00 pm
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Block's increased short interest suggests bearish market sentiment, but it's still below its peer group average. This could indicate a potential for short squeeze or resilience against short selling pressure.
The increase in short interest for Block indicates that some investors are expecting the price to drop. However, since the short interest is below the peer average, it may not be a strong bearish signal. The short-term impact is likely neutral as the market has already absorbed this information, and it does not necessarily predict immediate price movement.
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