How Is The Market Feeling About McKesson?
Portfolio Pulse from Benzinga Insights
McKesson's (NYSE:MCK) short interest has decreased by 10.48% since the last report, with 1.46 million shares sold short, representing 1.11% of its float. This decrease in short interest could indicate a more bullish sentiment towards MCK among traders. Compared to its peers, McKesson has a lower short interest percentage of float, with the average for its peer group being 4.21%.
May 02, 2024 | 8:15 pm
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POSITIVE IMPACT
The decrease in short interest for McKesson suggests a growing bullish sentiment among investors, potentially leading to a positive short-term impact on its stock price.
A decrease in short interest typically indicates that fewer investors are betting against the stock, which can lead to a reduction in selling pressure and potentially drive the stock price up in the short term. Given that McKesson's short interest is significantly lower than its peer average, this suggests a stronger confidence in the company's performance relative to its competitors, further supporting a potential positive impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90