(NFLX) - Analyzing Netflix's Short Interest
Portfolio Pulse from Benzinga Insights
Netflix's (NYSE:NFLX) short interest has increased to 9.93 million shares, representing 2.33% of its float, with a 1.13-day average cover time. This rise in short interest indicates a more bearish market sentiment towards Netflix. However, compared to its peers' average short interest of 7.72%, Netflix has less short interest, suggesting a relatively stronger position. The increase in short interest doesn't necessarily predict a price drop but signals increased short selling activity.
February 22, 2024 | 1:30 pm
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Netflix's short interest has increased, indicating a bearish market sentiment but still shows strength compared to its peers.
The increase in short interest suggests a bearish sentiment towards Netflix, which could lead to increased volatility in the short term. However, Netflix's lower short interest compared to its peers indicates a relatively stronger position, which might mitigate any negative impact. The short-term impact is considered neutral due to these balancing factors.
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