How Is The Market Feeling About Applied Digital?
Portfolio Pulse from Benzinga Insights
Applied Digital (NYSE:APLD) has seen a 9.17% increase in short percent of float, with 21.13 million shares sold short, representing 21.66% of available shares. This indicates a bearish market sentiment towards APLD, as it exceeds the peer group average of 5.66% for short interest as a percentage of float. The data suggests caution, as an increase in short interest can signal market expectations of a price decline, though it can also present bullish opportunities under certain conditions.
April 23, 2024 | 6:00 pm
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Applied Digital's significant rise in short interest to 21.66% of its float suggests a bearish outlook from the market, exceeding the peer average and indicating potential volatility or price pressure in the short term.
The increase in short interest for Applied Digital indicates a bearish sentiment among investors, expecting the stock price to fall. This is significant as it surpasses the peer group average, suggesting that APLD may face more skepticism or negative pressure compared to its counterparts. However, high short interest can also lead to a short squeeze if the stock unexpectedly moves up, causing rapid price increases as short sellers cover their positions.
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