Looking Into Automatic Data Processing's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Automatic Data Processing (ADP) has seen a 15.38% increase in short interest, with 4.89 million shares sold short, representing 1.2% of its float. This is lower than the peer group average of 6.49%. The rise in short interest may indicate bearish sentiment, but it doesn't guarantee a price drop.
August 29, 2024 | 5:30 pm
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Automatic Data Processing's short interest has increased by 15.38%, with 4.89 million shares sold short, which is 1.2% of its float. This is below the peer average of 6.49%. The increase in short interest could indicate bearish sentiment, but it doesn't necessarily mean the stock price will fall.
The increase in short interest suggests a rise in bearish sentiment towards ADP, but since the short interest is still below the peer average, it doesn't strongly indicate an imminent price drop. The market sentiment is mixed, leading to a neutral short-term impact.
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