How Is The Market Feeling About GoDaddy?
Portfolio Pulse from Benzinga Insights
GoDaddy's (NYSE:GDDY) short interest has increased by 4.48% since the last report, with 2.56 million shares sold short, representing 2.33% of its float. This indicates a bearish market sentiment towards GDDY, although it has less short interest compared to its peers' average of 6.16%. The rise in short interest doesn't necessarily predict a price drop but suggests increased bearishness among traders.
April 01, 2024 | 1:30 pm
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GoDaddy's short interest has risen, indicating a bearish sentiment among traders. However, it remains below the peer average, suggesting a relatively stronger position.
The increase in short interest for GoDaddy suggests that traders are becoming more bearish on the stock, potentially leading to downward pressure on its price in the short term. However, being below the peer average in short interest could mitigate some negative impact, indicating a mixed outlook.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90