Looking Into Enovix's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Enovix Corporation (NYSE:ENVX) has seen a 5.52% increase in its short percent of float since the last report, reaching 24.67% of all shares available for trading. With 35.69 million shares sold short, it would take about 8.87 days for traders to cover their short positions. This rise in short interest indicates a more bearish market sentiment towards Enovix, although it's higher than the peer group average of 9.10% short interest as a percentage of float.
March 05, 2024 | 8:30 pm
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Enovix Corporation's short interest has increased, indicating a bearish market sentiment. This could lead to increased volatility in the short term.
The increase in short interest for Enovix suggests that investors are becoming more bearish on the stock. This could lead to increased selling pressure and potentially lower stock prices in the short term. However, high short interest can also lead to short squeezes if the stock moves positively, causing rapid price increases.
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