Bears Pile Into Wolfspeed and Cerebras

Short sellers are making bold moves this week. Wolfspeed tops the charts with short interest at 103% of free float — and it just climbed another 8 percentage points in seven days. Availability is zero. Borrowing more shares is nearly impossible.

AI chip maker Cerebras Systems is also drawing heavy fire. SI hit 32.4% of free float, up nearly 7 points week-on-week. Bears are clearly skeptical of its $8bn valuation.

Avis Budget sits at 48% short interest, also creeping higher by 2.3 points. Rental car demand concerns persist.

On the flip side, short covering is happening fast at Birkenstock. SI dropped 3.5 points to 26.8%. The cost to borrow remains steep at 21.4% — a sign that covering shorts is painful and expensive.

Fox Corporation saw SI jump 2 points to 16%, standing out among media names. GameStop sits at 13.9% — quiet for now, but options activity flagged in today's news flow.

Earnings-week names FedEx, Micron and lululemon carry modest short interest under 8%. Bears appear less aggressive ahead of results. NVIDIA and Tesla remain lightly shorted below 3%.