Peering Into Plug Power's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Plug Power (NYSE:PLUG) has seen a 7.74% increase in its short percent of float since the last report, with 172.19 million shares sold short, representing 25.34% of its available trading shares. This indicates a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. Plug Power's short interest is significantly higher than its peer group average of 10.44%.
April 12, 2024 | 3:00 pm
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Plug Power's significant increase in short interest suggests a bearish market sentiment, which could lead to increased volatility in the short term.
The rise in short interest for Plug Power indicates that a larger number of investors are betting against the stock, expecting its price to fall. This bearish sentiment, especially when significantly higher than its peers, can lead to increased stock price volatility. However, high short interest can also lead to short squeezes if the stock price starts to rise, causing shorts to cover their positions.
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