How Is The Market Feeling About AppLovin?
Portfolio Pulse from Benzinga Insights
AppLovin (NYSE:APP) has seen a 22.11% increase in its short percent of float since the last report, with 22.12 million shares sold short, representing 15.08% of available shares. This indicates a bearish market sentiment towards APP, as it takes traders approximately 5.23 days to cover their short positions. Compared to its peers, AppLovin has a significantly higher short interest, with the peer group average at 3.58%.
April 05, 2024 | 2:15 pm
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AppLovin's significant increase in short interest suggests a bearish market sentiment, potentially impacting its stock price negatively in the short term.
The increase in short interest for AppLovin indicates that a larger number of traders are betting against the stock, expecting its price to fall. This bearish sentiment, especially when significantly higher than its peers, can lead to negative pressure on the stock price in the short term. However, it's important to note that high short interest can sometimes lead to a short squeeze, causing the stock price to rise if the market conditions change unexpectedly.
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