(DDOG) - Analyzing Datadog's Short Interest
Portfolio Pulse from Benzinga Insights
Datadog's (NYSE:DDOG) short interest has decreased by 16.53%, with 8.54 million shares sold short, representing 3.03% of its float. This decrease in short interest could indicate a more bullish sentiment towards DDOG among traders. Compared to its peers, DDOG has a lower short interest percentage of float, with the average for its peer group being 4.12%.
April 11, 2024 | 3:45 pm
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The decrease in short interest for Datadog suggests a potential positive sentiment shift among investors, possibly leading to a short-term increase in stock price.
A decrease in short interest typically indicates that fewer investors are betting against the stock, which can be interpreted as a positive sentiment shift. Given that Datadog's short interest is also lower than its peer average, this could further suggest relative strength or optimism about the company's prospects, potentially leading to a short-term uptick in its stock price.
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