Peering Into ResMed's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ResMed (NYSE:RMD) has seen an increase in short interest, now at 5.11% of its float, higher than the peer group average of 4.14%. This indicates a bearish sentiment among traders, although it doesn't necessarily predict a near-term price drop. The short interest represents 6.58 million shares, and based on current trading volume, it would take about 8.16 days to cover all short positions.
March 26, 2024 | 5:01 pm
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ResMed's short interest has increased to 5.11% of its float, indicating a bearish market sentiment. This is above the peer group average, suggesting heightened skepticism among investors.
The increase in short interest for ResMed suggests that traders are more bearish on the stock, potentially due to concerns about its future performance. This bearish sentiment, especially being above the peer average, could lead to short-term downward pressure on the stock price. However, the impact is not guaranteed as short interest can also lead to a short squeeze if the stock moves positively.
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