How Is The Market Feeling About Cardinal Health?
Portfolio Pulse from Benzinga Insights
Cardinal Health (NYSE:CAH) has seen a decrease in short interest, with the short percent of float dropping 7.64% since the last report. The company has 7.40 million shares sold short, which is 3.99% of available shares for trading. The average time to cover these short positions is 3.0 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 near-term rise in stock price. Cardinal Health's short interest is below its peer group average of 4.75%.
January 03, 2024 | 3:45 pm
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POSITIVE IMPACT
Cardinal Health's decrease in short interest may suggest a more bullish sentiment among investors, potentially leading to a positive short-term impact on the stock price.
A decrease in short interest typically indicates that investors are less bearish on a stock, which could lead to an increase in its price. However, short interest is just one of many factors that can affect stock prices, and the article does not guarantee a near-term rise in Cardinal Health's stock price. The confidence score is not at the maximum because the market can be influenced by numerous unpredictable factors.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100