How Is The Market Feeling About RPM Intl?
Portfolio Pulse from Benzinga Insights
RPM International Inc. (NYSE:RPM) has seen a 30.08% increase in short interest since its last report, with 1.96 million shares sold short, representing 1.73% of its float. It would take about 3.04 days to cover these short positions based on current trading volumes. This rise in short interest may indicate a more bearish market sentiment towards RPM, although it has less short interest compared to its peer group average of 3.79%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on a decline.
March 21, 2024 | 3:15 pm
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RPM International Inc. has experienced a significant increase in short interest, indicating a bearish sentiment among traders. However, it's below its peer group's average, suggesting a relatively stronger position.
The increase in short interest for RPM International Inc. suggests that traders are more bearish on the stock. However, since it's below the peer group average, it indicates that RPM might be in a relatively better position compared to its peers. The impact on the stock price is uncertain as increased short interest can sometimes lead to a short squeeze, potentially driving the price up if the market sentiment shifts.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90