symbolic YES The short float percentage has increased by 99.91% since its last report. The company recently reported that it has 9.08 million shares sold short, which is 43.12% of all regular stocks that are available for trading. Depending on your trading volume, Traders would need an average of 7.48 days to cover their short positions.
Why short interest is important
Short interest is the number of shares that have been sold short but have not yet been covered or closed. Short selling is when a trader sells shares of a company they do not own, hoping that the price will drop. Traders make money by short selling if the stock price falls and lose if it rises.
It is important to track short interest because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest may indicate that investors have become more bearish, while a decrease in short interest may indicate that they have become more bullish.
See also: List of the shortest stocks
Symbolic Short Interest Chart (3 Months)
As you can see in the chart above, the percentage of shares being shorted for Symbotic has increased since its last report. This doesn’t mean the stock will fall anytime soon, but traders should be aware that more shares are being shorted.
Symbotic’s Short Interest Comparison to Peers
Peer comparison is a popular technique among analysts and investors to evaluate a company’s performance. A company’s peer is another company that has similar characteristics, such as industry, size, age, and financial structure. You can find a company’s peer group by reading its 10-K proxy filing or doing your own similarity analysis.
According to Benzinga Pro, Symbotic’s peer group average for short interest as a percentage of float is 3.56%, meaning the company has further short interest than most of its peers.
Did you know that increasing short-term interest can actually be bullish for an action? This Benzinga Money post explains how you can benefit from it.
This article was generated by Benzinga’s automated content engine and was reviewed by an editor.