How Is The Market Feeling About Reliance?
Portfolio Pulse from Benzinga Insights
Reliance (NYSE:RS) has seen a 5.42% increase in its short percent of float, now at 2.92% of all regular shares available for trading. This indicates a rise in bearish sentiment, although its short interest is still below the peer group average of 5.25%.
October 02, 2024 | 2:45 pm
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Reliance's short interest has increased by 5.42%, now at 2.92% of float, indicating a rise in bearish sentiment. However, it remains below the peer average of 5.25%.
The increase in short interest suggests a bearish sentiment among investors, which could lead to downward pressure on the stock price. However, since the short interest is still below the peer average, the impact might be moderated.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100