Looking Into Commercial Metals's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Commercial Metals (NYSE:CMC) has seen a 27.08% decrease in short interest, now at 2.42 million shares or 2.8% of float, taking 1.91 days on average to cover. This decline in short interest could indicate a more bullish sentiment towards CMC compared to its peers, where the average short interest as a percentage of float is 6.02%.
April 18, 2024 | 4:15 pm
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Commercial Metals's short interest has significantly decreased, indicating a potential increase in bullish sentiment among investors.
A decrease in short interest typically suggests that investors are less bearish on the stock, potentially leading to an increase in its price in the short term. Given that CMC's short interest is significantly below its peer average, this could be interpreted as a stronger bullish signal for the stock.
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