How Is The Market Feeling About CarMax?
Portfolio Pulse from Benzinga Insights
CarMax (NYSE:KMX) has seen a 4.28% increase in its short percent of float since the last report, reaching 12.17% of all shares available for trading. With 19.12 million shares sold short, it would take about 11.85 days to cover all short positions. This rise in short interest indicates a more bearish market sentiment towards CarMax, although it doesn't necessarily predict a near-term price drop. Compared to its peers, CarMax has a higher short interest percentage, suggesting more bearish sentiment than average within its peer group.
May 06, 2024 | 2:00 pm
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CarMax has experienced an increase in short interest, suggesting a bearish market sentiment. This could lead to increased volatility in the short term.
The increase in short interest for CarMax indicates that more traders are betting against the stock, which can lead to higher volatility and potentially lower prices in the short term. However, this does not guarantee a price drop, as market dynamics are influenced by various factors.
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