(PM) - Analyzing Philip Morris Intl's Short Interest
Portfolio Pulse from Benzinga Insights
Philip Morris Intl (NYSE:PM) has seen a decrease in short interest, with the current level at 7.72 million shares, representing 0.5% of available shares for trading. The short interest has fallen 7.41% since the last report, and it would take approximately 1.79 days for traders to cover their short positions based on average trading volume. This decline in short interest may indicate a more bullish sentiment among investors compared to the company's peers, which have an average short interest of 2.73% of float.
January 30, 2024 | 3:15 pm
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Philip Morris Intl's short interest has decreased, suggesting a more bullish sentiment among investors. The company's short interest is below the peer group average, potentially indicating a positive outlook for the stock in the short term.
The decrease in short interest for Philip Morris Intl indicates that investors may be less bearish on the stock, which could lead to a short-term increase in its price. The comparison with peers shows PM has a lower short interest, which is often seen as a positive sign. However, the article also notes that a decline in short interest does not necessarily mean the stock will rise, so while the outlook is more positive, it is not a guarantee of upward price movement.
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IMPORTANCE 70
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