Unity Software Inc. (U) is experiencing a notable rise in its stock price today, which can be attributed to a decrease in short interest. The latest data indicates a 3.32% reduction in short interest, bringing the total to 23.59 million shares. This decrease suggests that bearish sentiment towards the stock is waning, potentially leading to a short squeeze as traders cover their positions. The short interest ratio, which measures the number of days it would take to cover all short positions based on average trading volume, stands at 1.8 days. This relatively low ratio indicates that it would not take long for short sellers to cover their positions, adding upward pressure on the stock.
Unity Software's stock is currently trading at $25.91, reflecting a 5.95% increase from its previous close of $24.45. The stock opened at $24.76 and has seen a 4.62% rise from the opening price.