Looking Into GLOBALFOUNDRIES's Recent Short Interest
Portfolio Pulse from Benzinga Insights
GLOBALFOUNDRIES (NYSE:GFS) has seen a decrease in short interest, with the short percent of float dropping 9.25% since the last report. The company has 10.92 million shares sold short, representing 13.05% of available shares for trading. The average time to cover these short positions is 5.09 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. However, this does not necessarily predict a rise in the stock price. Compared to its peers, GLOBALFOUNDRIES has a higher short interest percentage of float, with the peer group average at 3.22%.
January 02, 2024 | 2:15 pm
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GLOBALFOUNDRIES's short interest has decreased, which may suggest a more bullish sentiment among investors. However, the high short interest relative to peers could indicate potential volatility or negative sentiment.
While the decrease in short interest for GLOBALFOUNDRIES could be taken as a positive sign, the article suggests caution, indicating that this does not necessarily mean the stock price will rise. The high short interest compared to peers could also lead to increased volatility or be a sign of lingering negative sentiment, which might counter any potential positive impact from the decrease in short interest.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100