Looking Into Devon Energy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Devon Energy's short interest has increased by 9.72%, with 19.20 million shares sold short, representing 3.5% of its float. This is below the peer group average of 6.72%. The rise in short interest may indicate bearish sentiment, but it doesn't guarantee a price drop.
October 04, 2024 | 7:45 pm
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NEUTRAL IMPACT
Devon Energy's short interest has increased by 9.72%, with 19.20 million shares sold short, representing 3.5% of its float. This is below the peer group average of 6.72%. The rise in short interest may indicate bearish sentiment, but it doesn't guarantee a price drop.
The increase in short interest suggests a bearish sentiment among investors, but since Devon Energy's short interest is still below the peer average, the impact on the stock price may be neutral in the short term. The market sentiment could change if the short interest continues to rise or if other factors come into play.
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