Looking Into Lucid Gr's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Lucid Group's (NYSE:LCID) short interest has decreased by 6.57%, now representing 21.6% of its float with 254.07 million shares sold short. It would take about 8.62 days to cover all short positions. This change in short interest could indicate a shift in market sentiment towards LCID, potentially impacting its stock price. Compared to its peers, LCID has a higher short interest, suggesting more bearish sentiment among investors.
March 08, 2024 | 4:45 pm
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Lucid Group's short interest has decreased, indicating a potential shift in market sentiment. With a higher short interest compared to peers, this could influence LCID's stock price in the short term.
A decrease in short interest typically indicates that investors are becoming more bullish on a stock, which can lead to an increase in its price. Given that Lucid Group's short interest is significantly higher than its peers, this reduction might be seen as a positive sign by the market, potentially leading to a short-term price increase. However, the high level of short interest relative to peers also suggests that there is a significant bearish sentiment, which could limit the upside potential.
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