Looking Into Snap's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Snap Inc. (NYSE:SNAP) has seen a 13.91% increase in its short percent of float, now at 7.86% of all regular shares available for trading. This indicates a bearish sentiment among investors, as it would take traders 3.43 days to cover their short positions. Snap's short interest is higher than its peer group average of 4.68%.
August 13, 2024 | 8:00 pm
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Snap Inc. has experienced a significant increase in short interest, rising by 13.91% to 7.86% of its float. This suggests a bearish sentiment among investors, as it would take 3.43 days to cover short positions. Snap's short interest is notably higher than its peer group average of 4.68%.
The significant increase in short interest indicates a bearish sentiment among investors, which could lead to downward pressure on the stock price in the short term. The fact that Snap's short interest is higher than its peers further underscores this negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100