(NET) - Analyzing Cloudflare's Short Interest
Portfolio Pulse from Benzinga Insights
Cloudflare's (NYSE:NET) short interest has increased by 6.73%, with 9.46 million shares sold short, representing 3.49% of its float. This is lower than the peer group average of 6.48%. The increase in short interest could indicate bearish sentiment, but it doesn't necessarily mean the stock will fall in the near term.
August 16, 2024 | 4:45 pm
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Cloudflare's short interest has increased by 6.73%, with 9.46 million shares sold short, representing 3.49% of its float. This is lower than the peer group average of 6.48%. The increase in short interest could indicate bearish sentiment, but it doesn't necessarily mean the stock will fall in the near term.
The increase in short interest suggests that more investors are betting against Cloudflare, which could indicate bearish sentiment. However, the short interest is still below the peer average, and increased short interest does not necessarily mean the stock will fall in the near term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100