Bears Pile In as AI and Car Rental Stocks Surge

Short sellers dramatically increased bets across several names this week. The biggest mover was CBRS. Cerebras Systems saw its SI % of FF leap from 6.3% to 32.4% in just seven days — a 26-point jump. Bears are clearly sceptical of the AI chip hopeful's valuation.

Car rental stocks remain a battleground. CAR (Avis Budget) sits at 47.8% SI % FF, up 7 points on the week. HTZ (Hertz) is close behind at 44.5%, also up 4.4 points. Both names face earnings scrutiny this week.

GRND (Grindr) caught fresh attention on social platforms. Its SI % FF doubled from 12% to 22.3% over the period. The cost to borrow remains cheap at 0.56% — shorts are not being squeezed yet.

The biggest short cover story belongs to WOLF. Wolfspeed's SI % FF fell from 117% to 88.9% — a 28-point drop. Short sellers booked profits after a brutal run for the SiC chipmaker.

BIRK (Birkenstock) carries the highest cost to borrow among movers at 18.2% APR. SI % FF climbed to 29.4%, up 7.6 points. Bears are paying a steep premium to hold that position.