Peering Into Packaging Corp of America's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Packaging Corp of America (NYSE:PKG) has seen a 19.02% increase in short interest, now at 1.85 million shares or 2.44% of float. This indicates a bearish market sentiment, though it's below the peer group average of 5.60%. The rise in short interest doesn't necessarily predict a price drop.
March 12, 2024 | 5:45 pm
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NEGATIVE IMPACT
Packaging Corp of America's short interest has increased, indicating a bearish sentiment but still below peer average.
The increase in short interest suggests that investors are becoming more bearish on PKG. However, being below the peer average might mitigate the negative impact. The short-term impact is likely negative due to increased bearish sentiment, but the below-average peer comparison provides a slightly mitigating factor.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90