How Is The Market Feeling About Amgen?
Portfolio Pulse from Benzinga Insights
Amgen (NYSE:AMGN) has seen an 11.84% increase in short interest since its last report, with 9.06 million shares sold short, representing 1.7% of available shares. It would take about 3.11 days to cover all short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. Amgen's short interest is below its peer group average of 5.78%.
January 10, 2024 | 7:30 pm
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Amgen's increased short interest suggests bearish sentiment, but it's still below the peer average, indicating less negative market sentiment compared to its peers.
The rise in short interest for Amgen indicates that some investors are expecting the price to fall, which could lead to increased selling pressure. However, since the short interest is below the peer average, it suggests that the sentiment is not as bearish as it could be. The impact on the stock price is uncertain, as short interest is just one of many factors that can affect stock prices in the short term.
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