Peering Into Chewy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Chewy's (NYSE:CHWY) short interest has risen by 9.25%, with 21.75 million shares sold short, representing 18.66% of its float. This is higher than the peer group average of 12.94%. Increased short interest can indicate bearish sentiment but may also present bullish opportunities.
July 17, 2024 | 6:15 pm
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NEUTRAL IMPACT
Chewy's short interest has increased by 9.25%, with 21.75 million shares sold short, representing 18.66% of its float. This is significantly higher than the peer group average of 12.94%. While this may indicate bearish sentiment, it could also present bullish opportunities if the stock price rises.
The increase in short interest suggests that more investors are betting against Chewy, which could indicate bearish sentiment. However, if the stock price rises, short sellers may be forced to cover their positions, potentially driving the price up further.
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