Peering Into Cleveland-Cliffs's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cleveland-Cliffs (NYSE:CLF) has seen a rise in short interest by 11.9%, with 33.44 million shares sold short, representing 9.12% of its float. This is higher than the peer group average of 5.79%. The increase in short interest could indicate bearish sentiment but does not necessarily predict a near-term price drop.
June 07, 2024 | 6:30 pm
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Cleveland-Cliffs has experienced an 11.9% increase in short interest, now at 9.12% of its float. This is higher than the peer group average of 5.79%, indicating potential bearish sentiment among investors.
The significant increase in short interest suggests that investors are becoming more bearish on Cleveland-Cliffs. This could lead to downward pressure on the stock price in the short term as more investors bet against the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100