(MNDY) - Analyzing Monday.Com's Short Interest
Portfolio Pulse from Benzinga Insights
Monday.Com's (NYSE:MNDY) short interest has increased by 10.37%, reaching 6.28% of its float with 1.59 million shares sold short. It would take approximately 1.12 days to cover these short positions. This rise in short interest indicates a more bearish market sentiment towards MNDY, although it doesn't necessarily predict a price drop. Compared to its peers, MNDY has a higher short interest, suggesting more bearish sentiment than average within its peer group.
February 29, 2024 | 5:30 pm
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NEUTRAL IMPACT
Monday.Com's short interest has increased significantly, indicating a bearish market sentiment. However, this does not necessarily predict a near-term price drop.
The increase in short interest for MNDY suggests a bearish sentiment among investors, which could lead to increased volatility. However, the impact on the stock's price in the short term is uncertain, as high short interest can sometimes lead to a short squeeze, pushing prices higher. The comparison with peers indicates that MNDY is viewed more bearishly than similar companies, which is important for investors to consider.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100