How Is The Market Feeling About Mueller Industries?
Portfolio Pulse from Benzinga Insights
Mueller Industries (NYSE:MLI) has seen an 8.87% increase in short percent of float since its last report, with 6.70 million shares sold short, representing 8.35% of available shares. This indicates a bearish market sentiment, although it's not a definitive predictor of stock price movement. Mueller Industries has a higher short interest than its peer group average of 3.09%.
April 10, 2024 | 4:00 pm
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Mueller Industries has experienced an increase in short interest, indicating a bearish market sentiment towards the stock.
The increase in short interest for Mueller Industries suggests that investors are becoming more bearish on the stock. This could lead to increased selling pressure in the short term. However, it's important to note that high short interest can sometimes lead to a short squeeze if the stock price starts to rise, causing short sellers to cover their positions.
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