Peering Into Trade Desk's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Trade Desk (NYSE:TTD) has seen a 5.17% increase in its short percent of float since the last report, with 13.66 million shares sold short, representing 3.46% of its available trading shares. This requires an average of 3.08 days for traders to cover their short positions. The increase in short interest can indicate a bearish market sentiment towards TTD, although it has less short interest compared to its peer group average of 4.55%. This information suggests a cautious outlook but also highlights a potential bullish scenario if the short interest leads to a squeeze.
February 27, 2024 | 5:00 pm
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Trade Desk's short interest has increased, indicating a bearish sentiment but also potential for a bullish outcome if a short squeeze occurs.
The increase in short interest for TTD suggests that the market sentiment might be turning bearish, as more traders are betting against the stock. However, since TTD has less short interest compared to its peers, it might not be as negatively perceived. Additionally, high short interest can lead to a short squeeze, potentially driving the stock price up if the market conditions change favorably.
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