Peering Into PDD Holdings's Recent Short Interest
Portfolio Pulse from Benzinga Insights
PDD Holdings (NYSE:PDD) has seen a decrease in short interest, with the short percent of float falling 11.78% to 3.52%. This indicates a reduction in bearish sentiment among traders. The current short interest stands at 23.65 million shares, requiring approximately 3.67 days for traders to cover their short positions. This change in short interest is compared to the peer group average of 8.36%, suggesting PDD Holdings has less short interest than its peers, potentially indicating a more bullish outlook among investors.
March 26, 2024 | 1:00 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
PDD Holdings has experienced a significant decrease in short interest, indicating a potential decrease in bearish sentiment among traders and possibly a more bullish outlook.
The decrease in short interest for PDD Holdings suggests that traders are becoming less bearish on the stock, which could lead to a short-term increase in its price. The comparison with its peers, where PDD has significantly less short interest, further supports the potential for a positive price movement in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90