How Is The Market Feeling About Academy Sports?
Portfolio Pulse from Benzinga Insights
Academy Sports (NYSE:ASO) has seen a decrease in short interest, with 8.49 million shares sold short, representing 21.54% of its float. This is a decline of 5.69% from its last report, requiring 8.08 days on average for traders to cover their short positions. Short interest is a key indicator of market sentiment, and a decrease suggests a more bullish outlook among investors. Compared to its peers, ASO has a higher short interest percentage of 21.54% versus the peer group average of 15.04%.
February 22, 2024 | 8:15 pm
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Academy Sports (ASO) has experienced a decrease in short interest, suggesting a more bullish sentiment among investors. This could potentially lead to a short-term positive impact on ASO's stock price.
The decrease in short interest for Academy Sports indicates that fewer investors are betting on the stock's decline, which can be interpreted as a positive sentiment towards the company. Given that short interest is a contrarian indicator, this reduction could lead to an increase in stock price in the short term, especially considering ASO's higher short interest compared to its peers.
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