Peering Into Lumen Technologies's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Lumen Technologies (NYSE:LUMN) has seen a 7.74% increase in its short percent of float, reaching 16.56% of all shares available for trading. With 146.67 million shares sold short, it would take about 8.05 days to cover all short positions. This rise in short interest indicates a more bearish market sentiment towards LUMN, although it doesn't necessarily predict a near-term price drop. Compared to its peers, LUMN has a significantly higher short interest, with the peer group average at 4.16%.
February 22, 2024 | 3:45 pm
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Lumen Technologies has experienced a significant increase in short interest, indicating a bearish market sentiment. However, this does not necessarily predict a near-term price drop.
The increase in short interest for LUMN suggests that investors are becoming more bearish on the stock. However, the impact on the stock's short-term price is uncertain, as high short interest can sometimes lead to a short squeeze, potentially driving the price up instead of down.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90