Peering Into McKesson's Recent Short Interest
Portfolio Pulse from Benzinga Insights
McKesson's (NYSE:MCK) short interest has increased by 9.17% since the last report, with 1.72 million shares sold short, representing 1.31% of its float. It would take about 1.77 days to cover these short positions. An increase in short interest can indicate bearish market sentiment, but McKesson's short interest is below its peer group average of 4.43%. This suggests that while there is a bearish sentiment, it is less pronounced compared to its peers.
March 28, 2024 | 2:15 pm
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McKesson's short interest has increased, indicating a bearish sentiment among investors. However, it remains below the peer group average, suggesting less negativity compared to its peers.
The increase in short interest for McKesson suggests that investors are becoming more bearish on the stock. However, the fact that McKesson's short interest is below its peer group average indicates that this bearish sentiment is not as strong as it might be for other companies in the same sector. This could lead to short-term downward pressure on the stock price, but the lower relative short interest could mitigate the extent of this pressure.
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