How Is The Market Feeling About Cleveland-Cliffs?
Portfolio Pulse from Benzinga Insights
Cleveland-Cliffs (NYSE:CLF) has seen a decrease in short interest, with shares sold short falling to 24.21 million, representing 5.55% of available shares. This decrease in short interest could indicate a more bullish sentiment towards CLF among traders. The company's short interest is higher than its peer group average of 4.01%, suggesting more bearish sentiment compared to its peers.
February 27, 2024 | 8:30 pm
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Cleveland-Cliffs's decrease in short interest suggests a potential bullish sentiment among traders, possibly leading to short-term positive price movement.
A decrease in short interest typically indicates that traders are less bearish on a stock, potentially leading to an increase in its price in the short term. Given that CLF's short interest is still above its peer average, this suggests a mixed sentiment but a more bullish outlook compared to previous reports.
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