(SOUN) - Analyzing SoundHound AI's Short Interest
Portfolio Pulse from Benzinga Insights
SoundHound AI (NYSE:SOUN) has experienced a rise in short interest, with 15.06% of its float being sold short, amounting to 27.18 million shares. This represents a 12.22% increase since the last report and would take approximately 2.95 days to cover based on average trading volume. High short interest can indicate bearish market sentiment but does not necessarily predict a price drop. SoundHound AI's short interest is higher than its peer group average of 7.87%.
January 26, 2024 | 3:30 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
SoundHound AI's short interest has increased to 15.06% of its float, which is significantly higher than the peer group average. This could indicate bearish sentiment or, conversely, set up a potential short squeeze.
While the increase in short interest suggests that the market sentiment may be bearish, it does not necessarily predict a decline in stock price. In some cases, high short interest can lead to a short squeeze, which can drive the price up if the stock moves positively and short sellers are forced to cover their positions. The impact score is neutral (0) due to the uncertainty of the direction of the price movement. The relevance is at 100 because the news is directly about SoundHound AI. The importance is set at 75, considering that short interest is a significant factor for investors but not the only one affecting stock price. The confidence level is at 80, acknowledging the complexity of predicting market reactions to short interest levels.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100