How Is The Market Feeling About TJX Companies?
Portfolio Pulse from Benzinga Insights
TJX Companies (NYSE:TJX) has seen a 3.3% rise in short interest since the last report, with 10.75 million shares sold short, representing 0.94% of available shares. It would take 2.56 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, TJX's short interest is below its peer group average of 15.08%. This could be interpreted as less bearish sentiment compared to its peers or potentially bullish if short sellers are forced to cover.
January 17, 2024 | 6:30 pm
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TJX Companies has experienced an increase in short interest, but remains below the peer group average. This could lead to a potential short squeeze if the market sentiment shifts, causing short sellers to cover positions.
The rise in short interest typically indicates bearish sentiment, but since TJX's short interest is below the peer average, it may not be as significant. If the market sentiment improves or if TJX outperforms expectations, short sellers might rush to cover their positions, potentially driving the price up in the short term.
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