Peering Into Cardinal Health's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cardinal Health (NYSE:CAH) has seen a 13.87% increase in its short percent of float since the last report, with 7.78 million shares sold short, representing 4.27% of its available trading shares. This indicates a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. Cardinal Health's short interest is slightly above its peer group average of 4.19%.
March 13, 2024 | 3:00 pm
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NEUTRAL IMPACT
Cardinal Health's short interest has increased, indicating a bearish sentiment among investors. However, this does not necessarily predict a near-term price drop.
The increase in short interest for Cardinal Health suggests a bearish sentiment, but it's important to note that short interest alone doesn't guarantee a price movement. The company's short interest is slightly above its peer average, which could indicate some concerns among investors compared to its peers. However, the impact on the stock price in the short term is uncertain, as short interest can sometimes lead to a short squeeze, potentially driving the price up if many investors decide to cover their shorts simultaneously.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90