Looking Into Snap's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Snap Inc. (NYSE:SNAP) has seen a decrease in short interest, with the current short percent of float at 9.62%, down 9.33% from the last report. The company has 86.77 million shares sold short, and it would take approximately 4.03 days for traders to cover these positions. This decline in short interest could indicate a more bullish sentiment towards SNAP among investors, although it doesn't guarantee a near-term price rise. Snap's short interest is higher than its peer group average of 6.77%.
March 19, 2024 | 6:00 pm
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Snap Inc. has experienced a significant decrease in short interest, suggesting a potential shift towards a more bullish sentiment among investors.
A decrease in short interest typically indicates that investors are becoming more optimistic about a company's future prospects, potentially leading to an increase in stock price in the short term. However, this is not a guaranteed indicator of future performance, and investors should consider other market factors as well.
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