Peering Into United States Steel's Recent Short Interest
Portfolio Pulse from Benzinga Insights
United States Steel (NYSE:X) has seen a 6.54% increase in short interest since its last report, with 18.43 million shares sold short, representing 8.31% of its float. It would take about 3.33 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. United States Steel has a higher short interest than its peer group average of 4.04%.
January 30, 2024 | 3:15 pm
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United States Steel's short interest has increased, which may suggest bearish sentiment among investors. However, high short interest doesn't necessarily predict a price drop and can sometimes be a bullish indicator.
While the increase in short interest for United States Steel indicates that more investors are betting against the stock, this is not a certain predictor of future price movement. High short interest can lead to a short squeeze if the stock price starts to rise, which can actually drive the price up in the short term.
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