How Is The Market Feeling About East West Bancorp?
Portfolio Pulse from Benzinga Insights
East West Bancorp (NYSE:EWBC) has seen a 17.46% increase in short percent of float since its last report, with 5.17 million shares sold short, representing 4.17% of available shares. This indicates a bearish market sentiment, although it's not a definitive predictor of stock performance. The company's short interest is higher than its peer group average of 3.93%.
March 29, 2024 | 2:30 pm
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East West Bancorp's short interest has increased by 17.46%, with 5.17 million shares sold short. This represents a bearish sentiment but doesn't guarantee a price drop.
The increase in short interest suggests that investors are becoming more bearish on EWBC, potentially leading to downward pressure on the stock price in the short term. However, high short interest can sometimes lead to a short squeeze, causing the stock to rise if many investors cover their positions simultaneously.
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