Peering Into American Express's Recent Short Interest
Portfolio Pulse from Benzinga Insights
American Express (NYSE:AXP) has seen a decrease in short interest, now at 1.13% of its float, lower than the peer group average of 8.40%. This reduction from 6.38 million shares suggests a more bullish sentiment among investors. The coverage time for short positions based on current trading volume is 2.54 days.
May 07, 2024 | 4:00 pm
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American Express's short interest has decreased, indicating a potentially more bullish sentiment among investors.
A decrease in short interest typically suggests that investors are less bearish on the stock, potentially leading to a positive impact on its price in the short term. Given that American Express's short interest is significantly lower than its peer group average, this could indicate stronger confidence in its performance relative to its competitors.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90