Schmitt Industries’s SMIT short percent of float has risen 65.91% since its last report. The company recently reported that it has 18 thousand shares sold short, which is 0.73% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.4 days to cover their short positions on average.
Why Short Interest Matters
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a…
