Looking Into Uber Technologies's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Uber Technologies (NYSE:UBER) has seen a 34.91% increase in short interest since its last report, with 73.59 million shares sold short, representing 3.71% of its float. The average time to cover these short positions is 1.07 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Uber's short interest is below its peer group average of 12.25%.
January 08, 2024 | 1:00 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Uber Technologies's short interest has increased, which may suggest bearish market sentiment. However, with short interest below the peer average, the impact may be muted.
The rise in short interest for Uber Technologies indicates that some investors are expecting the stock price to decline. However, since the short interest is less than the peer group average, this may not be a strong bearish signal. The short-term impact on the stock price is uncertain, hence a neutral score is given.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80