(NWSA) - Analyzing News's Short Interest
Portfolio Pulse from Benzinga Insights
News Corp's (NWSA) short interest has increased by 17.39%, with 9.17 million shares sold short, representing 2.43% of its float. It would take approximately 2.82 days to cover these short positions. This rise in short interest can indicate a bearish market sentiment towards NWSA, although it has less short interest compared to its peer group average of 4.24%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on its decline.
April 04, 2024 | 4:30 pm
News sentiment analysis
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News Corp's short interest has risen, indicating a bearish sentiment among traders, though it's below its peer group average.
The increase in short interest for NWSA suggests that traders are more bearish on the stock, expecting its price to fall. However, being below the peer average indicates it's not as heavily bet against as others, which could limit the downside. The short-term impact is likely negative due to increased bearish sentiment, but the below-average short interest compared to peers provides a nuanced view.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90