How Is The Market Feeling About ChargePoint Hldgs?
Portfolio Pulse from Benzinga Insights
ChargePoint Holdings (NYSE:CHPT) has seen an 8.9% increase in short interest since the last report, with 97.31 million shares sold short, representing 24.96% of available shares. It would take about 6.2 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. ChargePoint's short interest is significantly higher than its peer group average of 9.05%.
January 30, 2024 | 6:00 pm
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NEUTRAL IMPACT
ChargePoint Holdings has a high short interest at 24.96% of float, indicating bearish market sentiment but also potential for a short squeeze if the stock moves positively.
The high short interest in CHPT suggests that the market is bearish on the stock. However, such a high level of short interest can also lead to a short squeeze if the stock were to rise, as short sellers would need to cover their positions. The impact on the stock price is uncertain and could go either way in the short term, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100