How Is The Market Feeling About SP Plus?
Portfolio Pulse from Benzinga Insights
SP Plus (NYSE:SP) has seen a decrease in short interest, with 1.25 million shares sold short, representing 6.4% of its float. This is a decline of 3.47% from its last report, requiring 8.44 days on average for traders to cover their short positions. Short interest is a key indicator of market sentiment, and a decrease suggests a more bullish outlook among investors. SP Plus has a higher short interest compared to its peer group average of 2.75%, indicating more bearish sentiment towards it than its peers.
February 07, 2024 | 1:30 pm
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SP Plus has experienced a decrease in short interest, suggesting a potentially more bullish sentiment among investors. However, its short interest remains above the peer group average.
A decrease in short interest typically indicates that investors are becoming more bullish on a stock, expecting its price to rise. For SP Plus, this decrease suggests a positive shift in market sentiment. However, the fact that its short interest is still higher than its peers' average indicates that there is still a relatively bearish sentiment compared to its peer group. This mixed signal makes the short-term impact positive but with caution.
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