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Why Has the Short Interest in ExxonMobil Stock Risen?

Why Has the Short Interest in ExxonMobil Stock Risen?

The short interest (percentage of outstanding shares) in ExxonMobil (XOM) stock has risen from 0.67% on October 1 (the beginning of the current quarter) to 0.71%. Usually, a rise in the short interest indicates an increase in the bearish sentiment for the stock. During the same period, ExxonMobil’s stock price has fallen 10.3%. The short interest in ExxonMobil and its stock price have moved in the opposite direction in the fourth quarter.