Peering Into SoundHound AI's Recent Short Interest
Portfolio Pulse from Benzinga Insights
SoundHound AI (NYSE:SOUN) has seen a 3.74% increase in its short percent of float, now at 25.26%. This is significantly higher than its peers' average of 7.89%. The high short interest could indicate bearish sentiment but also presents a potential for a short squeeze.
August 05, 2024 | 7:00 pm
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SoundHound AI's short interest has increased by 3.74%, reaching 25.26% of its float. This is significantly higher than the peer average of 7.89%, indicating bearish sentiment but also potential for a short squeeze.
The increase in short interest suggests that more investors are betting against the stock, which could be seen as a bearish signal. However, the high short interest also means there is potential for a short squeeze, which could drive the stock price up if short sellers rush to cover their positions.
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