(CMC) - Analyzing Commercial Metals's Short Interest
Portfolio Pulse from Benzinga Insights
Commercial Metals (NYSE:CMC) has seen a 10.96% increase in its short percent of float, now at 4.15%. This indicates a rise in bearish sentiment, although it remains below the peer group average of 6.34%. It would take traders 2.82 days to cover their short positions.
July 24, 2024 | 5:45 pm
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Commercial Metals (NYSE:CMC) has experienced a 10.96% increase in short interest, now at 4.15% of its float. This suggests a rise in bearish sentiment among investors, although the short interest is still below the peer group average of 6.34%.
The increase in short interest indicates that more investors are betting against the stock, which could lead to 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.
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IMPORTANCE 80
RELEVANCE 100