How Is The Market Feeling About Fortinet?
Portfolio Pulse from Benzinga Insights
Fortinet (NYSE:FTNT) has seen a decrease in short interest, with the short percent of float dropping 18.03% since the last report. The company has 12.77 million shares sold short, representing 2.0% of available shares for trading. The current short interest suggests it would take 2.56 days to cover all short positions. A decrease in short interest can indicate a more bullish sentiment towards the stock. Fortinet's short interest is below its peer group average of 4.20%.
January 16, 2024 | 8:15 pm
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Fortinet's short interest has decreased, which may suggest a more bullish sentiment among investors and could potentially lead to a short-term positive impact on the stock price.
The decrease in short interest for Fortinet indicates that fewer investors are betting on the stock price to fall, which can be interpreted as a positive sign. This could lead to a short-term increase in the stock price as market sentiment appears to be more bullish. However, the article also cautions that this does not guarantee a rise in the stock price, hence the importance is significant but not critical.
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