Peering Into AbbVie's Recent Short Interest
Portfolio Pulse from Benzinga Insights
AbbVie (NYSE:ABBV) has experienced a 23.81% increase in short interest since its last report, with 13.69 million shares sold short, representing 0.78% of its float. The short interest is below the peer group average of 5.38%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline. It takes traders approximately 2.01 days to cover their short positions based on current trading volume.
December 29, 2023 | 8:00 pm
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AbbVie's short interest has increased, which may indicate bearish sentiment among investors. However, with short interest below the peer average, the impact may be limited.
The rise in short interest suggests that some investors are expecting a price decline, which could lead to increased selling pressure. However, since the short interest is relatively low compared to peers, it may not have a significant impact on the stock price in the short term. Additionally, the article suggests that an increase in short interest does not necessarily predict a near-term price decline.
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