Looking Into Meta Materials's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Meta Materials (NYSE:MMAT) has seen a 4.42% increase in short interest, now at 11.1% of its float, indicating a bearish market sentiment. With 699 thousand shares sold short and a 2.1-day average to cover, MMAT's short interest is higher than its peer group average of 7.00%. This rise in short interest can be a bullish indicator as it suggests potential for a short squeeze.
April 29, 2024 | 2:15 pm
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Meta Materials' short interest has increased to 11.1% of its float, higher than its peers, indicating a bearish sentiment but also potential for a short squeeze.
The increase in short interest for Meta Materials suggests a bearish market sentiment towards the stock, which could lead to increased volatility. However, high short interest can also lead to a short squeeze if the stock price starts to rise, potentially causing rapid price increases. The impact is considered neutral in the short term due to these opposing potential outcomes.
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