Peering Into Nucor's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Nucor Corporation (NYSE:NUE) has seen a decrease in short interest, with the short percent of float dropping 3.36% since the last report. The company has 5.30 million shares sold short, representing 2.88% of available shares, with a cover time of 3.08 days. This decline in short interest may indicate a more bullish sentiment among investors compared to Nucor's peers, which have an average short interest of 4.60% of float.
December 28, 2023 | 7:45 pm
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Nucor's short interest has decreased, suggesting a more bullish market sentiment towards the stock. With short interest below the peer group average, this could be seen as a positive sign for NUE's short-term price movement.
The decrease in short interest for Nucor indicates that fewer traders are betting against the stock, which could lead to less selling pressure and potentially a rise in stock price in the short term. However, short interest is just one indicator and does not guarantee stock movement.
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