Looking Into Tractor Supply's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Tractor Supply (NYSE:TSCO) has seen a 5.6% decrease in short interest since its last report, with 12.30 million shares sold short, representing 12.97% of its float. The average time to cover these short positions is 10.31 days. Short interest is a market sentiment indicator, and a decrease suggests investors may be more bullish on TSCO. Compared to its peers, TSCO has a lower short interest percentage of float, with the peer group average at 14.83%.
January 29, 2024 | 8:15 pm
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POSITIVE IMPACT
Tractor Supply's short interest has decreased, indicating a potentially more bullish sentiment among investors. With a lower short interest compared to its peers, TSCO may see less downward pressure from short sellers.
A decrease in short interest typically suggests that investors are less bearish on a stock, which could lead to less selling pressure and potentially a rise in the stock price. However, the article also cautions that this does not necessarily mean the stock will rise in the near term. The confidence score is not at the maximum because the relationship between short interest and stock price is not always direct and can be influenced by various other factors.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100