Wolfspeed remains the most extreme short in the market. Short interest hit 130% of free float. That jumped 27 points in a single week. Availability of shares to borrow has hit zero. Lucid Group is similarly stressed — SI climbed 7 points to 39%, with borrow costs at 78% APR. Both names face extreme short pressure heading into the weekend. Options traders are leaning bearish on Wolfspeed too, adding another layer of risk.
Viridian Therapeutics got FDA approval for Lumvoa, its thyroid eye disease drug, late Thursday. The binary event cleared. Traders who owned pre-approval calls are now deciding whether to roll or exit. Short interest at 13.8% of free float means any sustained buying could accelerate a squeeze.
Nike reports Q4 2026 results on Monday, June 30. Tariff pressure and China sales will be in focus. also reports that day. follows on July 1. Options flow into Nike is already elevated across multiple expiries.
Analysts re-rated the airline sector in a broad sweep. Delta targets rose to $86.41. United Airlines hit $136.63. Southwest edged to $47.51. Wells Fargo lifted its target on Applied Materials to $740. Biotech also got a boost — Incyte hit a 10-year consensus high target of $113.
European headlines are dominated by easyJet — the budget airline is in talks with Castlelake after rejecting a £4.9bn takeover offer. Oil prices also grabbed attention, with Brent crude back below pre-conflict levels at $72.48. Bitcoin fell below $60,000, hitting a 20-month low as retail investors shifted toward AI stocks.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
