Looking Into Best Buy Co's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Best Buy Co (NYSE:BBY) has seen a 4.31% increase in its short percent of float, now at 8.47%. This indicates a bearish sentiment among investors, as it surpasses the peer group average of 5.89%. It would take traders 4.71 days to cover their short positions.
August 06, 2024 | 4:45 pm
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Best Buy Co's short interest has increased by 4.31%, now at 8.47% of float, indicating a bearish sentiment. This is higher than the peer group average of 5.89%.
The increase in short interest suggests that investors are bearish on Best Buy Co, which could lead to downward pressure on the stock price in the short term. The short interest is significantly higher than the peer group average, further indicating negative sentiment.
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