Latest news for Paltac (OTC:PCCOF) Stock

Paltac Corp is engaged in the wholesale business of cosmetics, daily goods, and general-purpose pharmaceuticals.

Paltac Corp

RBC Capital analyst Ashish Sabadra maintains TransUnion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRU#NYSE">TRU</a>) with a Outperform and raises the price target from $85 to $106.

News

Price Target

Analyst Ratings

RBC Capital Maintains Outperform on TransUnion, Raises Price Target to $106

WIIM

Colgate-Palmolive shares are trading higher after the company reported better-than-expected Q2 financial results.

RBC Capital analyst Walter Spracklin maintains Union Pacific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) with a Outperform and lowers the price target from $281 to $275.

RBC Capital Maintains Outperform on Union Pacific, Lowers Price Target to $275

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>RBC Capital increased RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) price target from $102 to $115. RBC Capital analyst Ken Herbert maintained a Sector Perform rating. RTX shares gained 1% to trade at $114.58 on Friday. <a href="https://www.benzinga.com/quote/RTX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Goldman Sachs cut the price target for Coursera, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) from $10.5 to $9. Goldman Sachs analyst Eric Sheridan maintained a Sell rating. Coursera shares gained 50% to trade at $11.12 on Friday. <a href="https://www.benzinga.com/quote/COUR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo boosted the price target for Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) from $580 to $600. Wells Fargo analyst Michael Turrin maintained an Overweight rating. Tyler Technologies shares gained 3.1% to trade at $581.88 on Friday. <a href="https://www.benzinga.com/quote/TYL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler cut the price target for Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) from $68 to $64. Piper Sandler analyst Charles Neivert maintained an Overweight rating. Dow shares fell 0.1% to trade at $52.80 on Friday. <a href="https://www.benzinga.com/quote/DOW/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Macquarie boosted IMAX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) price target from $24 to $26. Macquarie analyst Chad Beynon maintained an Outperform rating. IMAX shares rose 1.8% to trade at $19.74 on Friday. <a href="https://www.benzinga.com/quote/IMAX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Truist Securities raised the price target for Tractor Supply Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSCO#NASDAQ">TSCO</a>) from $289 to $293. Truist Securities analyst Scot Ciccarelli maintained a Buy rating. Tractor Supply shares rose 2.7% to trade at $264.49 on Friday. <a href="https://www.benzinga.com/quote/TSCO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Susquehanna cut Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) price target from $75 to $66. Susquehanna analyst Mehdi Hosseini maintained a Positive rating. Rambus shares gained 1.9% to trade at $57.87 on Friday. <a href="https://www.benzinga.com/quote/RMBS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays boosted AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) price target from $187 to $200. Barclays analyst Carter Gould maintained an Overweight rating. AbbVie shares rose 2.1% to trade at $185.90 on Friday. <a href="https://www.benzinga.com/quote/ABBV/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Needham raised LendingTree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TREE#NASDAQ">TREE</a>) price target from $56 to $67. Needham analyst Mayank Tandon maintained a Buy rating. LendingTree shares fell 2.3% to trade at $53.47 on Friday. <a href="https://www.benzinga.com/quote/TREE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank boosted Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) price target from $540 to $600. Deutsche Bank analyst Scott Deuschle upgraded the stock from Hold to Buy. Lockheed Martin shares rose 0.8% to trade at $525.61 on Friday. <a href="https://www.benzinga.com/quote/LMT/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
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Lockheed Martin To Rally Over 14%? Here Are 10 Top Analyst Forecasts For Friday

The Biden-Harris Administration revealed that the U.S. Department of Commerce and Amkor Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) <a target="_blank" href="https://www.commerce.gov/news/press-releases/2024/07/biden-harris-administration-announces-preliminary-terms-amkor" rel="noreferrer noopener">signed </a>a preliminary memorandum of terms to provide up to $400 million in funding under the CHIPS and Science Act.
This funding supports Amkor&#8217;s planned $2 billion semiconductor packaging facility in Peoria, Arizona, which is expected to create 2,000 jobs and boost the domestic semiconductor supply chain.
Amkor announced in November 2023 its plans to build its first domestic outsourced semiconductor <a href="https://www.benzinga.com//node/39978603">assembly and test facility in Peoria, Arizona.</a>
Amkor&#8217;s Arizona facility will utilize technology, including 2.5D technology crucial for AI and high-performance computing.
President Biden&#8217;s CHIPS and Science Act, a pivotal part of his Investing in America agenda, aims to revitalize U.S. semiconductor manufacturing, enhance supply chain security, and foster job creation.
The proposed funding will help Amkor build the largest advanced packaging facility in the U.S., supporting high-performance computing, AI, communications, and automotive markets.
Amkor has secured approximately 55 acres and intends to build the campus with more than 500,000 square feet of clean room space. The first phase of the manufacturing facility is targeted to be ready for production within three years.
Commerce Secretary Gina Raimondo highlighted the significance of this investment in meeting the rising demand for AI chips and securing economic and national security.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39966756/intel-taps-micron-leader-to-strengthen-ai-chip-strategy" rel="noreferrer noopener">Intel Taps Micron Leader To Strengthen AI Chip Strategy</a>
This initiative ensures that companies like Taiwan Semiconductor Manufacturing Company Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and GlobalFoundries Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>) can package and test essential chips domestically, reinforcing the entire chip manufacturing process within the U.S. 
Amkor plans to take advantage of the Department of the Treasury&#8217;s Investment Tax Credit, which is expected to be up to&nbsp;25%&nbsp;of qualified capital expenditures.
In addition to the proposed direct funding of up to $400 million, the CHIPS Program Office would make approximately $200 million of proposed loans, which is part of the $75 billion in loan authority provided by the CHIPS and Science Act, available to Amkor under the preliminary memorandum of terms.
Price Action: AMKR shares are trading lower by 0.75% at $37.90 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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What's Going On With Amkor Technology Stock Today?

Goldman Sachs analyst Joe Ritchie maintains GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) with a Buy and raises the price target from $196 to $220.

Goldman Sachs Maintains Buy on GE Vernova, Raises Price Target to $220

RBC Capital analyst Steven Shemesh maintains O'Reilly Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) with a Outperform and lowers the price target from $1124 to $1115.

ORLY

RBC Capital Maintains Outperform on O'Reilly Automotive, Lowers Price Target to $1115

Goldman Sachs analyst Susan Maklari maintains Fortune Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBIN#NYSE">FBIN</a>) with a Buy and raises the price target from $75 to $86.

FBIN

Goldman Sachs Maintains Buy on Fortune Brands, Raises Price Target to $86

Goldman Sachs analyst Caitlin Burrows maintains First Industrial Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FR#NYSE">FR</a>) with a Sell and raises the price target from $46 to $52.

Goldman Sachs Maintains Sell on First Industrial Realty, Raises Price Target to $52

Wells Fargo analyst Derek Archila maintains argenx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) with a Overweight and raises the price target from $543 to $547.

ARGX

Wells Fargo Maintains Overweight on argenx, Raises Price Target to $547

On Friday, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a negative opinion on the approval of Eisai Co., Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESALY#OTC">ESALY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESALF#OTC">ESALF</a>) and Biogen Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) <a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38413442/biogeneisais-popular-alzheimers-drug-leqembi-is-seeing-slow-adoption-heres-why" rel="noreferrer noopener">lecanemab</a>.
The companies seek approval for the humanized anti-soluble aggregated amyloid-beta (Aβ) monoclonal antibody as a treatment for early AD (mild cognitive impairment due to Alzheimer&#8217;s disease (AD) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39981134/update-on-regulatory-review-of-lecanemab-for-early-alzheimers-disease-in-the-european-union" rel="noreferrer noopener">and mild AD)</a>.
The committee <a target="_blank" href="https://www.ema.europa.eu/en/news/meeting-highlights-committee-medicinal-products-human-use-chmp-22-25-july-2024" rel="noreferrer noopener">considered</a> that the observed effect of Leqembi on delaying cognitive decline does not counterbalance the risk of serious side events associated with the medicine, in particular, the frequent occurrence of amyloid-related imaging abnormalities involving swelling and potential bleedings in the brain of patients who received Leqembi.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38410191/biogens-leqembi-commercial-ramp-up-modest-but-up-ticking-reports-mixed-bag-q1-earnings" rel="noreferrer noopener">Biogen&#8217;s Leqembi Commercial Ramp-Up Modest But Up Ticking, Reports Mixed Bag Q1 Earnings</a>.
In March, Biogen and Eisai faced a regulatory setback when Oral Explanation slated for March 19 at the <a target="_blank" href="https://www.benzinga.com/general/biotech/24/03/37897025/european-medicines-agency-delays-approval-decision-for-biogen-eisai-partnered-alzheimers-drug-lec" rel="noreferrer noopener">CHMP was postponed</a>.&nbsp;
In June, the FDA&#8217;s advisory committee delivered a favorable verdict on the Eli Lilly And Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Alzheimer&#8217;s treatment donanemab,&nbsp;declaring its benefits to surpass <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39277429/eli-lillys-donanemab-gains-favorable-fda-advisory-verdict-boosting-stock-potential-" rel="noreferrer noopener">the associated risks</a>.
&#8220;We are extremely disappointed by the CHMP&#8217;s negative opinion and understand that this may also be disappointing for the wider Alzheimer&#8217;s disease community,&#8221; said Lynn Kramer, Chief Clinical Officer at Eisai.
Eisai will seek re-examination of the CHMP opinion and work with the relevant authorities to ensure this treatment is available for eligible people living with early AD in the European Union (EU) as soon as possible.
Lecanemab has already been approved in the United States, Japan, China, South Korea, Hong Kong, and Israel, and it is being marketed in the U.S. (as&nbsp;Leqembi), Japan, and China.
AD currently affects 6.9 million people in Europe, which is expected to nearly double by 2050 as aging populations increase.
Eisai serves as the lead for lecanemab&#8217;s development and regulatory submissions globally. Both Eisai and Biogen co-commercialize and co-promote the product, and Eisai has final decision-making authority.
Price Action: BIIB stock is down 6.11% at $213.55 at the last check on Friday.
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Photo via Shutterstock

Biotech

Large Cap

Health Care

Movers

BIIB

ESALF

ESALY

Biogen/Eisai's Alzheimer's Drug Leqembi Gets 'No Go' From European Drug Regulator's Advisory Panel, Cites Serious Side Events

CARR

Carrier Global shares are trading higher. Multiple analysts maintained an Outperform rating on the stock. The company on Thursday reported mixed Q2 earnings.

CRWD

CrowdStrike Outage Likely To Impact Insurers' Earnings; AM Best Warns Of Potential Insurance Claims And Legal Processes

CREV

Carbon Revolution shares are trading higher after the company reported it has partnered with GM to provide carbon fiber wheels for the Chevrolet Corvette ZR1.

ONMD

OneMedNet shares are trading higher after the company announced a $4.6M private placement.

Aon shares are trading higher after the company reported better-than-expected Q2 revenue results.

RBC Capital analyst Keith Mackey maintains Patterson-UTI Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTEN#NASDAQ">PTEN</a>) with a Outperform and lowers the price target from $15 to $14.

PTEN

RBC Capital Maintains Outperform on Patterson-UTI Energy, Lowers Price Target to $14

COLB

Columbia Banking System shares are trading higher after the company reported better-than-expected Q2 earnings results. Also, multiple firms raised their respective price targets on its stock.

Canopy Growth Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WEED#TSX">WEED</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) will release its financial results for the first quarter of fiscal year 2025 ended June 30, 2024, before financial markets open&nbsp;on August 9, 2024.
An audio webcast with David Klein, CEO and Judy Hong, CFO  will take place on August 9, at 10 am ET.
<h2 class="wp-block-heading">Canopy&#8217;s European Expansion</h2>
Canopy has been ramping up its presence in the Czech Republic as the country's officials are considering a fully legal commercial adult-use <a href="https://www.benzinga.com/markets/cannabis/24/07/39773667/leaked-documents-czech-republic-plans-to-set-up-legal-recreational-cannabis-market">cannabis market as part of its ‘Cannabis Management Act.&#8217;</a> Its medical brand is servicing other European markets like <a href="https://www.benzinga.com/markets/cannabis/24/07/39773667/leaked-documents-czech-republic-plans-to-set-up-legal-recreational-cannabis-market">Poland</a> and Germany as well, as well as Asia-Pacific markets, including <a href="https://www.benzinga.com/markets/cannabis/23/10/35162207/canopy-growth-shares-up-slightly-in-pre-market-trading-on-eu-gmp-certification-news">Australia and New Zealand.</a> That said, Canopy's International markets cannabis net revenue increased 32% year-over-year to CA$12 million in the <a href="https://www.benzinga.com/markets/cannabis/24/05/39085695/canopy-growth-reports-7-yoy-increase-in-q4-net-revenue-continues-focus-on-innovation-in-canada-a">fourth quarter driven by growth in Germany and Poland.</a>
On the heels of reporting its fourth quarter results for the fiscal year that ended March 31, 2024, Canopy CEO David Klein said the company will seize positive cannabis regulatory shifts in Germany and the United States, Klein added. &#8220;Entering FY2025, Canopy has growing businesses in the world's most attractive cannabis markets, a leading portfolio of high-impact brands, and a rapidly developing U.S. ecosystem."
In early June, Canopy said it has established an at-the-market equity program under which it can issue and sell up to $250 million worth of its common shares from treasury from time to time in concurrent <a href="https://www.benzinga.com/markets/cannabis/24/06/39207292/canopy-growth-announces-250m-at-the-market-equity-program">public offerings in the United States and Canada.</a> The announcement has generated significant buzz within the cannabis industry, as highlighted by Benzinga's <a href="https://www.benzinga.com/author/javier-hasse">Javier Hasse</a> at the time.
"We're pleased to announce this offering, which further enhances Canopy's financial flexibility and balance sheet," Judy Hong,&nbsp;Canopy Growth&#8217;s CFO told Benzinga Cannabis <a href="https://www.benzinga.com/markets/cannabis/24/06/39233003/exclusive-canopy-growth-cfo-on-atm-equity-offering-we-have-one-of-the-strongest-balance-sheets-i">exclusively</a>. "Having already reduced our debt by more than $1.1 billion over the past 18 months, and with no material debt maturing until 2026, Canopy has one of the strongest balance sheets among major cannabis companies."
According to <a href="https://www.benzinga.com/topic/viridian-capital-advisors">Viridian Valuation Tracker</a>'s report in June on Canadian cultivation and retail companies with market caps over $100 million market Canopy is the best performer in the group based on its year-to-date stock performance.
Why? Canopy&#8217;s better performance is <a href="https://dealtracker.viridianca.com/valuation-tracker-by-industry-sector/">attributed</a> to its acquisition of U.S. plant-touching <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39237411/how-these-2-nasdaq-listed-marijuana-companies-found-a-way-to-raise-250m-without-tan">companies into Canopy USA</a>.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39166300/canopy-growth-doubles-down-on-its-usa-strategy-announces-exercise-of-acreage-options">Canopy Growth Doubles Down On Its USA Strategy, Announces Exercise of Acreage Options</a>
CGC shares traded 2.65% higher $7.35 per share at the time of writing on Friday morning.
<h3 class="wp-block-heading">Earnings Calendar For Upcoming Releases</h3>
Weedmaps
<ul>
<li>WM Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAPS#NASDAQ">MAPS</a>) &#8211; also known as Weedmaps &#8211; a leading marketplace and technology solutions provider to the cannabis industry, today announced it will report financial results for its second quarter ended June 30, 2024, after market close on Thursday, August 8, 2024. </li>
<li>Last week, the company reported sales declined by 4.5% year-over-year and quarter-over-quarter in&nbsp;the first quarter of fiscal 2024.&nbsp;According to senior analyst Pablo Zuanic fromZuanic &amp; Associates,&nbsp;MAPS management did not provide FY 2024 guidance but expects stable sales for the second quarter while anticipating EBITDA of around $7 million, down from $9 to $11 million due to increased marketing spend. </li>
<li>Additionally, the recent legalization of <a href="https://www.benzinga.com/topic/ohio-cannabis">recreational cannabis in Ohio</a> is expected to drive growth in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39850838/is-a-1500-increase-possible-the-bull-case-for-this-cannabis-tech-stock-explained">the second half of 2024</a>. On Thursday, the online cannabis marketplace, announced a partnership with NuggMD, to streamline the medical cannabis education and application process for <a href="https://www.benzinga.com/markets/cannabis/24/07/39959663/weedmaps-and-nuggmd-partner-to-launch-medical-cannabis-education-and-application-program">patients through a new pilot program.</a></li>
</ul>
Charlotte&#8217;s Web
<ul>
<li>Charlotte&#8217;s Web Holdings, Inc. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CWEB#TSX">CWEB</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CWBHF#OTCQX">CWBHF</a>) will report its 2024 second-quarter results prior to the market opening on August 8, 2024. A conference call to review the results is scheduled for the same day at 11:00 am Eastern Time.&nbsp;</li>
<li>The Colorado-based hemp extract wellness producer faced a challenging first quarter, <a href="https://www.benzinga.com/markets/cannabis/24/05/38705530/cbd-focused-charlottes-web-revenue-drops-29-in-q1-amid-strategic-adjustments">reporting a 29% decline in revenue to $12.1 million from $17 million in the same period of fiscal 2023.</a>&nbsp;&nbsp;&nbsp;&nbsp;</li>
</ul>
Cronos Group
<ul>
<li>Cronos Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CRON#TSX">CRON</a>) will hold its 2024 second-quarter earnings conference call on Thursday, August 8, 2024, at 8:30 am Eastern Time. </li>
<li>The company&#8217;s net revenue surged 30% year-over-year, <a href="https://www.benzinga.com/markets/cannabis/24/05/38739086/cronos-cannabis-company-slashes-losses-reports-highest-quarterly-net-revenue-in-q1-2024">reaching</a> $25.3 million in the first quarter reported in May and driven primarily by <a href="https://www.benzinga.com/topic/canada-cannabis">sales in Canada and Israel.</a> </li>
<li>Subsequent to the quarter end, the company announced the expansion of Cronos Growing Company, a cannabis cultivation business of which the Toronto-based company owns 50%. The investment will be funded by a roughly $51 million (CA$70 million) secured non-revolving credit facility provided by Cronos. It will assist GrowCo&#8217;s expansion of its purpose-built cannabis facility in Leamington, Ontario, that will produce high-quality cannabis flower, the <a href="https://www.benzinga.com/markets/cannabis/24/06/39418098/cronos-cannabis-co-will-provide-51m-to-growco-toward-facility-expansion-fund">company said at the time</a>.</li>
</ul>
TILT Holdings
<ul>
<li>TILT Holdings Inc. (Cboe: TILT) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/TLLTF#OTCQB">TLLTF</a>) will host a second-quarter earnings conference call on Friday, August 9, 2024, at 8:30 am Eastern Time. </li>
<li>The company said earlier first-quarter 2024 results revealed disruptions in the vape hardware segment, which accounted for 71% of the company&#8217;s sales in 2023. Despite these challenges, the custom <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38995545/tilt-holdings-cannabis-sales-steady-despite-supply-disruptions-are-debt-and-stock-d">business remained robust,</a> with the company seeing growth opportunities in hemp-derived vapes, remaining the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35228569/whos-who-among-cannabis-hardware-vaping-suppliers-zuanic-associates-take-a-deep-div">largest CCELL distributor in the U.S.</a></li>
</ul>
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Learn more about leading cannabis companies and stocks at&nbsp;the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

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CWBHF

CWEB

MAPS

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TLLTF

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TSX:CWEB

TSX:WEED

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MetLife's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>) short percent of float has fallen 9.66% since its last report. The company recently reported that it has 7.74 million shares sold short, which is 1.31% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.55 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> 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 decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>MetLife Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722003322_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for MetLife has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing MetLife's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, MetLife's peer group average for short interest as a percentage of float is 2.97%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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