Looking Into Chord Energy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Chord Energy (NYSE:CHRD) has seen an 8.34% increase in its short percent of float since the last report, with 3.48 million shares sold short, representing 11.04% of its available trading shares. This indicates a bearish market sentiment, although it's not a definitive predictor of a price drop. Chord Energy's short interest is higher than its peer group average of 6.67%, suggesting more bearish sentiment compared to its peers.
April 25, 2024 | 5:00 pm
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Chord Energy's increased short interest suggests a bearish market sentiment, potentially impacting its stock price negatively in the short term.
The rise in short interest for Chord Energy indicates that a significant number of traders are betting against the stock, expecting its price to fall. This bearish sentiment, especially when higher than its peers, can lead to increased selling pressure and potentially a decrease in stock price in the short term.
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