How Is The Market Feeling About Canaan?
Portfolio Pulse from Benzinga Insights
Canaan Inc. (NYSE:CAN) has seen a 15.86% increase in short interest, now at 11.47% of its float, indicating a bearish market sentiment. With 26.87 million shares sold short, it would take about 1.95 days to cover all short positions. This rise in short interest is higher than the peer group average of 6.10%, suggesting more bearish sentiment towards Canaan compared to its peers.
April 29, 2024 | 3:45 pm
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Canaan Inc. has experienced a significant increase in short interest, indicating a bearish market sentiment towards the stock.
The increase in short interest suggests that investors are more bearish on Canaan, potentially leading to increased selling pressure and a short-term decrease in stock price.
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