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Should You Buy Canadian Imperial Bank of Commerce (CM) Stock on Friday?

Friday, December 02, 2022 10:33 AM | InvestorsObserver Analysts

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Should You Buy Canadian Imperial Bank of Commerce (CM) Stock on Friday?

Canadian Imperial Bank of Commerce (CM) stock is lower by 9.79% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator.

Sentiment Score - ,bearish
Canadian Imperial Bank of Commerce has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on CM!

What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish. InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion. For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.

What's Happening With CM Stock Today?

Canadian Imperial Bank of Commerce (CM) stock is trading at $43.94 as of 10:32 AM on Friday, Dec 2, a loss of -$0.59, or -1.32% from the previous closing price of $44.53. The stock has traded between $43.62 and $44.24 so far today. Volume today is low. So far 408,857 shares have traded compared to average volume of 797,918 shares.

More About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada. Click Here to get the full Stock Report for Canadian Imperial Bank of Commerce stock.

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