(RMD) - Analyzing ResMed's Short Interest
Portfolio Pulse from Benzinga Insights
ResMed's (NYSE:RMD) short interest has increased to 7.89 million shares, representing 6.12% of its float, a rise of 3.03% since the last report. It would take approximately 7.51 days for traders to cover their short positions based on current trading volumes. This increase in short interest could indicate a more bearish market sentiment towards RMD, although it's not a definitive predictor of stock price movement. ResMed has a higher short interest compared to its peer group average of 3.98%.
April 30, 2024 | 1:45 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
ResMed's increased short interest to 7.89 million shares or 6.12% of its float suggests a bearish market sentiment. This could lead to increased volatility in the short term.
The rise in short interest for ResMed indicates that a significant number of traders are betting against the stock, expecting its price to fall. This bearish sentiment can lead to increased stock price volatility in the short term, especially if there is a sudden move to cover short positions, known as a short squeeze. However, the impact is considered with moderate confidence due to market unpredictability and the fact that high short interest can sometimes lead to a positive price correction if the market sentiment shifts.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100