The increase in short interest for Verizon Communications suggests that investors are becoming more bearish on the stock, expecting its price to decrease. This could lead to short-term price pressure. However, the fact that it's below the peer average short interest might mitigate the negative impact slightly, indicating a less bearish outlook compared to its peers. High short interest can sometimes lead to a short squeeze, causing a rapid price increase if the market sentiment shifts, but this is more speculative.