Peering Into WESCO Intl's Recent Short Interest
Portfolio Pulse from Benzinga Insights
WESCO Intl's (NYSE:WCC) short interest has increased by 89.45% since the last report, with 1.65 million shares sold short, representing 3.77% of its float. It would take approximately 2.32 days to cover these short positions. An increase in short interest can indicate bearish market sentiment, but WESCO has less short interest compared to its peer group average of 4.50%. This rise in short interest doesn't necessarily predict a price drop but indicates heightened short selling activity.
April 04, 2024 | 5:00 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
WESCO Intl's short interest has significantly increased, indicating a bearish sentiment among traders. However, it remains below the peer average, suggesting a relatively stronger position.
The increase in short interest for WESCO Intl suggests that traders are betting against the stock, which could indicate bearish sentiment. However, the fact that WESCO's short interest is below its peer group average suggests that it may be in a relatively stronger position compared to its peers. The impact on the stock price in the short term is uncertain, as increased short interest can lead to both downward pressure on the stock price and potential for a short squeeze if the stock moves positively.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90