How Is The Market Feeling About Home Depot?
Portfolio Pulse from Benzinga Insights
Home Depot (NYSE:HD) has seen a 24.68% increase in short interest since its last report, with 9.56 million shares sold short, representing 0.96% of available shares. The short interest is below the peer group average of 6.43%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.
January 02, 2024 | 3:15 pm
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Home Depot's short interest has increased, but remains below the peer group average, suggesting mixed market sentiment that may not significantly impact the stock price in the short term.
The rise in short interest indicates that some investors are bearish on Home Depot. However, since the short interest is still lower than the peer average, it does not strongly suggest a negative outlook. The impact on the stock price is likely to be neutral in the short term unless further market sentiment or company-specific news emerges.
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