Peering Into Campbell Soup's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Campbell Soup (NYSE:CPB) has seen a decrease in short interest, with 13.45 million shares sold short, representing 7.04% of its float. This is a 4.09% drop since the last report, and it takes an average of 4.6 days to cover these short positions. The decrease in short interest could indicate a more bullish sentiment towards CPB compared to its peers, where the average short interest as a percentage of float is 3.93%.
March 21, 2024 | 1:00 pm
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Campbell Soup's short interest has decreased, indicating a potential bullish sentiment among investors. With 7.04% of shares sold short and a 4.09% drop since the last report, this could suggest a short-term positive impact on CPB's stock price.
A decrease in short interest typically indicates that investors are becoming more bullish on a stock. For CPB, the significant drop in short interest, coupled with the fact that it is higher than its peer average, suggests that market sentiment may be shifting positively. This could lead to a short-term increase in stock price as investors may interpret the decrease in short interest as a sign of confidence in the company's future performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90