Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Wednesday, February 10, 2021 9:28:03 AM
By: 24/7 Wall St. | February 10, 2021
The turmoil in the attack on short sellers appears to have run its course and markets have returned to more or less normal, with the volatility index now back to its level prior to the attack. The VIX index reached a high of more than 36 on January 29 and the latest data on short interest was reported late Tuesday as of the January 29 settlement date.
As of January 29, more than 44 million shares of Microsoft Corp. (NASDAQ: MSFT) were sold short, which is about 0.6% of the company’s total float and an increase of 6% from two weeks earlier. A year ago, more than 56 million shares of Microsoft were short.
Note that short sellers also bought into FAANG stocks Facebook and Amazon in the most recent period.
The increase in short interest in Microsoft stock during the latter half of January likely reflects some analysts’ adjusting their price targets higher. The company’s stock continues to have an overall Buy rating and retains plenty of headroom between its most recent closing price of $243.77 and the consensus price target of $272.95. That gap implies a potential gain in the share price of 12% over the next year.
Looking at the high price target of $315, it implies a share price gain of nearly 30% over the next 12 months.
During the two-week short interest reporting period, Microsoft stock added just over 9% to its value, and as of Tuesday’s close, shares had added another 5% since January 29.
Shares added about 0.5% on Tuesday and traded up about the same amount in Wednesday’s premarket. The stock’s 52-week trading range is $132.52 to $245.09, and the high was posted last week. The consensus price target on the stock rose by more than $3 during the two-week period. Given the potential share price gains based on the stock’s current price, Microsoft stock is not a particularly attractive play for short sellers.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent MSFT News
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Blackbaud and Microsoft's Tech for Social Impact Team Collaborating to Bring Sophisticated Cloud Technology, AI and Analytics to Nonprofits • PR Newswire (US) • 09/17/2024 05:00:00 PM
- Microsoft Boosts Share Buyback, Raises Dividends by 10%, Intel Secures Chip Deal with Amazon • IH Market News • 09/17/2024 10:40:35 AM
- Microsoft announces quarterly dividend increase and new share repurchase program • PR Newswire (US) • 09/16/2024 09:56:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:08:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:08:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:07:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:07:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:06:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:06:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:05:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:05:04 PM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 10:07:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 10:07:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 10:06:43 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/10/2024 06:40:53 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/10/2024 04:00:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/09/2024 10:21:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/09/2024 10:20:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/09/2024 10:20:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/09/2024 10:19:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/09/2024 10:19:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/09/2024 10:19:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/09/2024 10:18:30 PM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM