(DKNG) - Analyzing DraftKings's Short Interest
Portfolio Pulse from Benzinga Insights
DraftKings (NYSE:DKNG) has seen a 26.69% increase in its short percent of float, now at 4.51% with 21.32 million shares sold short. This indicates a rise in bearish sentiment, although it is still below the peer group average of 5.08%.
June 14, 2024 | 5:45 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
DraftKings has experienced a 26.69% increase in short interest, now at 4.51% of its float. This suggests a rise in bearish sentiment among investors, although it remains below the peer group average of 5.08%.
The significant increase in short interest suggests that more investors are betting against DraftKings, which could put downward pressure on the stock price in the short term. However, the short interest is still below the peer average, which may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100