How Is The Market Feeling About FuboTV?
Portfolio Pulse from Benzinga Insights
FuboTV (NYSE:FUBO) has seen a 5.35% increase in short percent of float since the last report, with 49.32 million shares sold short, representing 17.33% of available shares. It would take about 5.36 days to cover these short positions based on current trading volume. While high short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. FuboTV's short interest is significantly higher than its peer group average of 5.60%.
January 29, 2024 | 3:15 pm
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NEUTRAL IMPACT
FuboTV's increased short interest suggests bearish market sentiment, but it's not a definitive indicator of future price movement. The stock may face volatility if traders react to this news.
While the rise in short interest for FUBO indicates a bearish outlook from traders, it doesn't guarantee a price drop. The market may interpret this as a potential for a short squeeze, which could drive the price up if many investors decide to cover their shorts simultaneously. The impact is neutral due to the uncertainty of traders' reactions.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100