How Is The Market Feeling About Abbott Laboratories?
Portfolio Pulse from Benzinga Insights
Abbott Laboratories (NYSE:ABT) has seen a 12.16% increase in short percent of float since its last report, with 14.29 million shares sold short, representing 0.83% of available shares. This indicates a bearish sentiment among investors, although it's not a definitive predictor of stock movement. Compared to its peers, ABT has a lower short interest percentage of float (0.83% vs. peer average of 4.39%), suggesting less bearish sentiment relative to its peer group.
March 28, 2024 | 6:00 pm
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Abbott Laboratories has experienced a 12.16% increase in short interest, indicating a bearish sentiment among investors. However, its short interest is lower than the peer group average, suggesting less bearish sentiment relative to its peers.
The increase in short interest for Abbott Laboratories suggests a bearish sentiment among investors, which could potentially impact the stock price in the short term. However, the fact that ABT's short interest is significantly lower than its peer group average indicates that the bearish sentiment is not as strong relative to its peers, which might mitigate the potential negative impact on its stock price. Therefore, the short-term impact on ABT's stock price is considered neutral, as the increased short interest could be offset by its relative strength compared to peers.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90