How Is The Market Feeling About Trex Co?
Portfolio Pulse from Benzinga Insights
Trex Co (NYSE:TREX) has seen a decrease in short interest, with 5.13 million shares sold short, representing 5.45% of its float. This is a 7.47% decrease from its last report, indicating a potential shift in market sentiment towards the stock. The current short interest suggests a more bullish outlook, as it takes traders approximately 6.91 days to cover their short positions. Trex Co's short interest is higher than its peer group average of 3.75%, suggesting more bearish sentiment compared to its peers.
March 29, 2024 | 3:30 pm
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Trex Co has experienced a decrease in short interest, indicating a potential bullish sentiment shift among investors. With a higher short interest compared to its peers, the stock may see increased attention.
The decrease in short interest for Trex Co suggests that investors are becoming more bullish on the stock. This is further supported by the fact that it takes traders nearly 7 days to cover their short positions, indicating a strong potential for a short squeeze. However, the higher short interest compared to its peers also suggests that there is a level of skepticism, which could lead to increased volatility. The overall impact is likely positive in the short term as the market digests this shift in sentiment.
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