Looking Into SouthState's Recent Short Interest
Portfolio Pulse from Benzinga Insights
SouthState (NYSE:SSB) has seen an increase in short interest, now at 5.12% of its float, higher than the peer group average of 3.58%. This rise to 2.93 million shares sold short suggests a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. It takes traders approximately 7.44 days to cover their short positions, indicating a significant short interest in the stock.
May 08, 2024 | 8:45 pm
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SouthState's short interest has increased to 5.12% of its float, indicating a bearish sentiment among investors. This is higher than its peers' average short interest.
The increase in short interest for SouthState suggests that investors are becoming more bearish on the stock. This could lead to increased selling pressure in the short term, potentially impacting the stock price negatively. The comparison with peers highlights that the sentiment towards SouthState is more bearish than towards similar companies, further supporting the potential for a negative price movement.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90