Looking Into Johnson & Johnson's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Johnson & Johnson's (NYSE:JNJ) short interest has increased by 19.23% since the last report, with 15.01 million shares sold short, representing 0.62% of its float. It would take about 2.35 days to cover these short positions. The rise in short interest can indicate a bearish market sentiment towards JNJ, although it has less short interest compared to its peers' average of 3.90%. This information suggests investors are showing increased bearishness but JNJ still fares better than most of its peers in terms of short interest.
February 07, 2024 | 8:45 pm
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Johnson & Johnson's short interest has increased, indicating a bearish sentiment among investors. However, it remains below the peer average, suggesting relative strength.
The increase in short interest for JNJ suggests that investors are becoming more bearish on the stock, potentially leading to short-term price pressure. However, the fact that JNJ's short interest is below its peer average indicates that it may be in a relatively stronger position compared to its competitors. This mixed signal could lead to short-term volatility, but the underlying strength might mitigate significant downside risk.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90