(SUM) - Analyzing Summit Materials's Short Interest
Portfolio Pulse from Benzinga Insights
Summit Materials (NYSE:SUM) has seen a 5.56% increase in its short percent of float, now at 4.18% of all regular shares available for trading. This is higher than the peer group average of 3.06%. It would take traders 4.93 days to cover their short positions on average.
August 06, 2024 | 6:15 pm
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Summit Materials has experienced a 5.56% increase in short percent of float, now at 4.18%, which is higher than its peers' average of 3.06%. This indicates increased bearish sentiment among investors.
The increase in short interest suggests that more investors are betting against Summit Materials, indicating a bearish sentiment. This could put downward pressure on the stock price in the short term.
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