How Is The Market Feeling About Alibaba Gr Holding?
Portfolio Pulse from Benzinga Insights
Alibaba Group Holding (NYSE:BABA) has seen a 17.17% decrease in short interest since the last report, with 39.26 million shares sold short, representing 1.64% of available shares. The average time to cover these short positions is 1.75 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, BABA has a lower short interest as a percentage of float, with the peer group average at 10.93%.
January 01, 2024 | 6:30 pm
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Alibaba's decrease in short interest suggests a more bullish market sentiment, which could lead to a short-term positive impact on the stock price.
The reduction in short interest indicates that fewer traders are betting against Alibaba, which could reduce downward pressure on the stock price. However, short interest is just one of many factors that can affect stock prices, and the article does not guarantee a price rise. The confidence level is not at 100 because market sentiment can be influenced by a variety of unpredictable factors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100