Peering Into Autodesk's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Autodesk's (NYSE:ADSK) short interest has increased by 16.98% since the last report, with 2.65 million shares sold short, representing 1.24% of its float. It would take about 2.55 days to cover all short positions. This rise in short interest indicates a more bearish market sentiment towards ADSK, although it has less short interest compared to its peers' average of 4.49%. The increase in short interest can sometimes be bullish for a stock.
May 01, 2024 | 6:15 pm
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Autodesk's short interest has risen by 16.98%, indicating a bearish market sentiment. However, it's below the peer average, which could suggest resilience or potential bullishness.
The increase in short interest suggests a bearish sentiment, but being below the peer average could indicate that the market views Autodesk more favorably than its competitors. The impact on the stock price is uncertain, as increased short interest can sometimes lead to a short squeeze, driving prices up, or it may reflect genuine market pessimism.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100