Bears Pile Into AI and Crypto Names

Short sellers made bold moves this week. SharonAI saw the biggest jump among $1B+ stocks. SI % of FF leapt from 12.8% to 54.5% in just seven days. That's a 41.7 percentage point swing — one of the sharpest single-week surges on record for a mid-cap name.

Wolfspeed remains the most extreme short on the market. SI sits at 103% of free float. Zero shares are available to borrow. The chipmaker is in bankruptcy proceedings and shorts have nowhere to cover.

AI chip hopeful Cerebras Systems also attracted fresh pressure. SI climbed to 32.4%, up 6.8pp on the week. Cost to borrow is still low at 1.5%, so the bears aren't paying much to hold.

On the flip side, crypto miners are squeezing shorts out. CleanSpark saw shorts cover — SI fell 2.5pp to 31.9%. News flow on bitcoin miners has been bullish. TeraWulf is also in the headlines with shorts caught on the wrong side.

Avis Budget holds a persistently elevated 48% SI. Availability sits at just 49%. Rental car bears are staying put for now.