Bears Pile Into Cerebras, Flee Wolfspeed

Short sellers made a dramatic move into CBRS last week. Cerebras Systems saw its short interest jump from 6.25% to 30.26% of free float — a 24-point surge in just seven days. That's the biggest single-week increase among mid- and large-cap US stocks. Availability is razor-thin at just 0.6% of short interest, signalling intense demand to borrow shares.

The mirror image played out at WOLF. Wolfspeed's short interest plunged 31.6 percentage points to 88.1% of free float. Shorts covered aggressively despite the stock remaining one of the most heavily shorted names in the market. Cost to borrow sits at 8.4%, reflecting how difficult it still is to find shares.

HTZ continues to attract bearish attention. Hertz now sits at 44.6% short interest, up 4.8 points week-on-week. Shares available to borrow are scarce at just 9.3% of SI.

GRND — Grindr — saw a sharp 10.5-point rise in short interest to 22.3%. Unusually, availability remains high at 137%, suggesting shorts are piling in while borrow is still accessible.

Meanwhile, INOD went the other way. Innodata's short interest dropped 20% in a week to just 7.4% of float. Cost to borrow fell to 0.40% and availability surged to 987% — a classic short squeeze unwind.

Gold is sinking to six-month lows and oil is near three-month lows on Iran deal hopes — macro shifts that may be driving some of these short-side repositions in leveraged and cyclical names.