Looking Into SouthState's Recent Short Interest
Portfolio Pulse from Benzinga Insights
SouthState (NYSE:SSB) has seen a 12.63% decrease in short interest, now at 4.04 million shares or 6.02% of float, taking 11.3 days to cover. This decline may indicate a more bullish sentiment towards SSB, despite being higher than its peer average of 3.42% short interest. Short interest is a key market sentiment indicator, with changes potentially impacting stock price movements.
February 07, 2024 | 4:15 pm
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SouthState's decrease in short interest suggests a potential bullish sentiment among investors, possibly leading to positive short-term price movement.
A decrease in short interest typically indicates that investors are less bearish on the stock, potentially leading to an increase in its price as short sellers cover their positions. Given that SSB's short interest is still above its peer average, this suggests a mixed sentiment but with a recent shift towards more bullish views. The coverage period of 11.3 days also implies that any sudden increase in buying pressure could accelerate the price increase as short sellers rush to cover.
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