Looking Into Netflix's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Netflix (NYSE:NFLX) has seen a 3.12% increase in short interest since its last report, with 9.97 million shares sold short, representing 2.31% of its float. It would take about 3.09 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Netflix has less short interest compared to its peer group average of 7.14%. The rise in short interest doesn't necessarily predict a near-term price drop.
January 19, 2024 | 7:00 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Netflix's short interest has increased, which may indicate bearish sentiment among investors. However, it remains below the peer average, suggesting less negative sentiment compared to competitors.
While the increase in short interest typically suggests that investors are expecting the price to fall, the fact that Netflix's short interest is below its peer group average could mitigate the negative impact. The article also suggests that an increase in short interest does not necessarily predict a near-term price drop, which makes the short-term impact neutral.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80