How Is The Market Feeling About Applied Digital?
Portfolio Pulse from Benzinga Insights
Applied Digital (NYSE:APLD) has seen an 8.68% increase in short percent of float, now at 23.54% of all shares available for trading. This indicates a bearish market sentiment towards APLD, with a current short volume of 22.96 million shares and a 4.36-day average to cover short positions. Compared to its peers, APLD has a significantly higher short interest, suggesting more bearish sentiment than its counterparts.
May 10, 2024 | 7:30 pm
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Applied Digital's increased short interest suggests a bearish market sentiment, potentially leading to higher volatility and price pressure in the short term.
The significant rise in short interest for APLD indicates a bearish sentiment among investors, which could lead to increased selling pressure and volatility in the stock's price in the short term. Given the higher than average short interest compared to its peers, this suggests that the market is more pessimistic about APLD's prospects, potentially impacting its stock price negatively.
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