(CLF) - Analyzing Cleveland-Cliffs's Short Interest
Portfolio Pulse from Benzinga Insights
Cleveland-Cliffs (NYSE:CLF) has seen a 16.6% increase in short interest since its last report, with 31.19 million shares sold short, representing 8.5% of its float. This indicates a bearish sentiment among investors, although it doesn't necessarily predict a price drop. The company's short interest is higher than its peer group average of 5.68%, suggesting more bearish sentiment compared to its peers.
May 02, 2024 | 5:45 pm
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Cleveland-Cliffs's increased short interest to 8.5% of its float suggests a bearish market sentiment, potentially impacting its stock price in the short term.
The rise in short interest for Cleveland-Cliffs indicates a bearish sentiment among investors, which could lead to increased selling pressure and potentially lower stock prices in the short term. However, high short interest can also lead to a short squeeze if the stock price starts to rise, causing short sellers to cover their positions.
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