Looking Into Alcoa's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Alcoa Corporation's (NYSE:AA) short interest has increased by 7.53% since the last report, with 11.74 million shares sold short, representing 7.57% of its float. This indicates a bearish market sentiment towards AA, although it doesn't necessarily predict a price drop. Alcoa's short interest is significantly higher than its peer group average of 3.20%, suggesting more bearish sentiment compared to its peers.
February 19, 2024 | 4:45 pm
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Alcoa Corporation's short interest has risen, indicating a bearish sentiment among investors. However, this does not directly imply a future decrease in stock price.
While an increase in short interest suggests that investors are betting against the stock, it's not a definitive predictor of a price drop. The short interest is higher than its peers, which could indicate specific concerns about Alcoa, but it could also lead to a short squeeze if the stock unexpectedly moves higher.
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