Peering Into Abbott Laboratories's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Abbott Laboratories (NYSE:ABT) has seen a 21.31% increase in short interest, now at 12.70 million shares or 0.74% of float, taking 2.13 days on average to cover. This rise in short interest can indicate a bearish market sentiment towards ABT, though it has less short interest compared to its peers' average of 3.93%. The increase in shorting does not necessarily predict a near-term price drop.
February 20, 2024 | 6:30 pm
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Abbott Laboratories has experienced a significant increase in short interest, indicating a potentially bearish sentiment among investors, yet remains below peer average.
The increase in short interest for ABT suggests that investors might be expecting a price decline. However, being below the peer average in short interest could mitigate the bearish outlook to some extent. The short-term impact is likely negative due to the increased bearish sentiment, but the lower than average peer short interest provides a slightly cushioning effect.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90