How Is The Market Feeling About AutoZone?
Portfolio Pulse from Benzinga Insights
AutoZone (NYSE:AZO) has seen a 22.4% decrease in short interest since its last report, with 369 thousand shares sold short, representing 2.39% of its float. The average time to cover these short positions is 2.0 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, AutoZone has a lower short interest as a percentage of float, with the peer group average at 13.10%.
January 05, 2024 | 6:45 pm
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AutoZone's short interest has decreased, which may suggest a more bullish sentiment among investors. The stock has less short interest compared to its peers, which could be perceived positively by the market.
A decrease in short interest typically indicates that investors are less bearish on a stock, which could lead to a potential increase in its price in the short term. Since AutoZone's short interest is below the peer average, this could be seen as a positive sign by investors, potentially leading to a short-term price increase.
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