Looking Into ON Semiconductor's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ON Semiconductor (NYSE:ON) has seen a 3.18% rise in short interest since its last report, with 24.95 million shares sold short, representing 8.75% of its float. It would take about 3.5 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. ON's short interest is higher than its peer group average of 3.42%.
December 28, 2023 | 5:30 pm
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NEUTRAL IMPACT
ON Semiconductor's short interest has increased, which may indicate bearish market sentiment but does not guarantee a decline in stock price. The stock may face increased volatility due to this sentiment.
While the rise in short interest for ON Semiconductor suggests that some investors are expecting the price to fall, it is not a definitive predictor of stock performance. The market's reaction can be unpredictable, and sometimes an increase in short interest can lead to a short squeeze, pushing the price higher if the stock moves contrary to the short sellers' expectations. Therefore, the impact is neutral with moderate importance and confidence.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100