Looking Into Nike's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Nike's (NYSE:NKE) short interest has increased by 6.82% since the last report, with 13.80 million shares sold short, representing 1.41% of available shares. It would take 1.58 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. Nike's short interest is below its peer group average of 7.97%.
January 26, 2024 | 3:30 pm
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NEUTRAL IMPACT
Nike's short interest has risen, indicating potential bearish sentiment among investors. However, with short interest below the peer average, the impact may be muted.
An increase in short interest typically suggests that investors are expecting the price of a stock to decline. However, since Nike's short interest is still below the peer group average, it may not have a significant impact on the stock price in the short term. Additionally, the article suggests that an increase in short interest does not necessarily predict a near-term price drop, which supports a neutral score.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80