Peering Into WEX's Recent Short Interest
Portfolio Pulse from Benzinga Insights
WEX Inc. (NYSE:WEX) has seen a 5.67% increase in its short percent of float since the last report, with 843 thousand shares sold short, representing 2.05% of its available shares for trading. It would take about 4.68 days for traders to cover their short positions. This rise in short interest indicates a more bearish market sentiment towards WEX, although it has less short interest compared to its peers, with an average of 5.04% in the peer group.
April 18, 2024 | 7:00 pm
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WEX Inc. has experienced an increase in short interest, indicating a bearish market sentiment. However, it remains below the peer group average, suggesting a relatively stronger position.
The increase in short interest for WEX suggests that investors are becoming more bearish on the stock, potentially leading to downward pressure on its price in the short term. However, being below the peer average in short interest could mitigate some negative perceptions, indicating a mixed impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100