Peering Into Spirit Airlines's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Spirit Airlines (NYSE:SAVE) has seen a 14.78% increase in its short percent of float since the last report, reaching 19.73% of all shares available for trading. With 21.42 million shares sold short, it would take about 6.16 days for traders to cover their positions. This rise in short interest indicates a more bearish market sentiment towards SAVE, although it doesn't necessarily predict a price drop. Compared to its peers, Spirit Airlines has a higher short interest, with the average being 7.93%.
February 07, 2024 | 7:15 pm
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Spirit Airlines has experienced a significant increase in short interest, indicating a bearish sentiment among investors. This could lead to increased volatility in the short term.
The increase in short interest for Spirit Airlines suggests that investors are more bearish on the stock. However, this does not necessarily predict a price drop but indicates potential for increased volatility. The comparison with peers shows SAVE has a higher short interest, which could attract attention from investors looking to capitalize on potential short squeezes or increased volatility.
CONFIDENCE 80
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RELEVANCE 90