How Is The Market Feeling About Canoo?
Portfolio Pulse from Benzinga Insights
Canoo (NYSE:GOEV) has seen a decrease in short interest, with the short percent of float dropping 10.94% since the last report. The company has 108.22 million shares sold short, representing 15.55% of available shares. The average time to cover these short positions is 2.72 days. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise. Canoo's short interest is higher than its peer group average of 12.26%.
January 19, 2024 | 8:45 pm
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Canoo's short interest has decreased, which may suggest a more bullish sentiment among investors. However, this does not guarantee a rise in stock price in the short term.
A decrease in short interest typically indicates that investors are less bearish on a stock, which could lead to a potential increase in its price. However, the article suggests caution, as this is not a definitive predictor of near-term price movement. Canoo's short interest is still higher than its peers, which could mean there is skepticism about the company's prospects.
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