How Is The Market Feeling About Paylocity Holding?
Portfolio Pulse from Benzinga Insights
Paylocity Holding (NYSE:PCTY) has seen a 5.84% increase in short percent of float since its last report, with 2.69 million shares sold short, representing 7.07% of available shares. This indicates a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. Paylocity's short interest is above its peer group average of 5.09%, suggesting more bearish sentiment compared to its peers.
May 02, 2024 | 8:30 pm
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Paylocity's increased short interest indicates a bearish market sentiment, which could lead to increased volatility in the short term.
The rise in short interest for Paylocity suggests that investors are more bearish on the stock, potentially leading to higher volatility as traders may expect the stock price to decrease. However, this does not guarantee a price drop but indicates a negative sentiment that could impact the stock's short-term movement.
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