(AAP) - Analyzing Advance Auto Parts's Short Interest
Portfolio Pulse from Benzinga Insights
Advance Auto Parts (NYSE:AAP) has seen a 4.09% increase in its short percent of float since the last report, reaching 9.42% of all shares available for trading. With 4.85 million shares sold short, it would take about 3.74 days for traders to cover their positions. This rise in short interest indicates a more bearish market sentiment towards AAP, although it has less short interest compared to its peer group average of 12.64%.
March 06, 2024 | 8:30 pm
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Advance Auto Parts's short interest has increased, indicating a bearish market sentiment but still below its peer group average.
The increase in short interest suggests that investors are becoming more bearish on AAP, potentially leading to downward pressure on the stock price in the short term. However, being below the peer average might mitigate some negative perceptions.
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