Peering Into Freeport-McMoRan's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Freeport-McMoRan (NYSE:FCX) has seen a 19.35% decrease in short interest since its last report, with 14.26 million shares sold short, representing 1.0% of its float. The average trading volume indicates it would take about 1.0 day to cover all short positions. A decrease in short interest can suggest a more bullish sentiment among investors. Compared to its peers, FCX has a lower short interest as a percentage of float, with the peer group average at 3.82%.
December 29, 2023 | 8:45 pm
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Freeport-McMoRan's short interest has decreased, which may indicate a more bullish sentiment among investors and could lead to a short-term positive impact on the stock price.
The decrease in short interest suggests that fewer investors are betting against the stock, which could reduce selling pressure and potentially lead to a price increase. However, short interest is just one of many factors that can affect stock prices, and the article does not guarantee a rise in the near term.
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