Looking Into Netflix's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Netflix's (NYSE:NFLX) short interest has decreased by 18.45% since the last report, with 8.08 million shares sold short, representing 1.9% of its float. This decrease in short interest could indicate a more bullish sentiment towards NFLX among traders. Compared to its peers, Netflix has a lower short interest percentage of 1.9% against an average of 7.21%, suggesting it is less bearishly viewed than its competitors.
March 28, 2024 | 8:15 pm
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Netflix's short interest has significantly decreased, indicating a potential bullish sentiment among traders and possibly less pressure on the stock price from short sellers.
A decrease in short interest typically suggests that traders are less bearish on the stock, expecting fewer price declines. This can reduce selling pressure and potentially lead to a price increase, especially when compared to a higher industry average of short interest. The significant drop in Netflix's short interest, coupled with its lower short interest compared to peers, suggests a more favorable market sentiment towards Netflix, potentially leading to short-term price appreciation.
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