How Is The Market Feeling About Nikola?
Portfolio Pulse from Benzinga Insights
Nikola Corporation (NYSE:NKLA) has seen a 13.04% rise in short interest since its last report, with 191.11 million shares sold short, representing 17.16% of its float. The short interest is higher than the peer group average of 4.23%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Traders would need approximately 1.68 days to cover their short positions based on current trading volume.
January 29, 2024 | 6:30 pm
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Nikola's short interest has increased, indicating potential bearish sentiment among investors. However, this does not necessarily mean the stock price will fall in the short term.
While the rise in short interest for Nikola suggests that investors may be expecting the stock price to fall, short interest alone is not a definitive predictor of immediate stock price movement. The article indicates that an increase in short interest can sometimes be bullish, and the impact on the stock price in the short term is uncertain.
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