(NOK) - Analyzing Nokia's Short Interest
Portfolio Pulse from Benzinga Insights
Nokia's (NYSE:NOK) short interest has decreased by 17.39%, with 21.09 million shares sold short, representing 0.38% of its float. The current short interest suggests a bullish sentiment compared to its peers, where the average short interest as a percentage of float is 7.75%. This change in short interest could influence Nokia's stock performance in the short term.
February 07, 2024 | 1:30 pm
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POSITIVE IMPACT
Nokia's short interest has significantly decreased, indicating a potential bullish sentiment among investors. This could lead to a positive impact on Nokia's stock price in the short term.
The decrease in short interest suggests that fewer investors are betting against Nokia's stock, which can be interpreted as a positive sentiment towards the company. Given that short interest is a contrarian indicator, a significant drop could lead to an increase in stock price as short sellers cover their positions, potentially driving demand.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90