Looking Into Home Depot's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Home Depot's (NYSE:HD) short interest has increased by 8.25% since the last report, with 10.43 million shares sold short, representing 1.05% of its float. It would take approximately 3.28 days to cover these short positions. The rise in short interest can indicate a bearish market sentiment towards HD, although it has less short interest compared to its peers, with an average of 6.07% in the peer group.
February 21, 2024 | 6:30 pm
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Home Depot's short interest has risen by 8.25%, indicating a potential increase in bearish sentiment among investors. However, its short interest is below the peer group average.
The increase in short interest suggests that more investors are betting against HD, which could lead to downward pressure on the stock price in the short term. However, being below the peer average might mitigate some negative perceptions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90