Peering Into Cleveland-Cliffs's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cleveland-Cliffs (NYSE:CLF) has seen a 15.36% increase in its short percent of float, now at 12.62%, indicating a bearish sentiment compared to its peers with an average of 4.71%. This could signal potential volatility in the stock's price.
October 01, 2024 | 2:15 pm
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Cleveland-Cliffs has experienced a significant increase in short interest, now at 12.62% of its float, which is higher than its peers' average. This suggests a bearish sentiment and potential volatility in the stock price.
The increase in short interest suggests that investors are more bearish on Cleveland-Cliffs compared to its peers. This could lead to increased volatility in the stock price as traders may anticipate a decline. However, it's important to note that high short interest can sometimes lead to a short squeeze, which could drive the price up if traders rush to cover their positions.
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