US markets close early today for the July 4th weekend. Bears are the dominant story heading in.
WOLF (Wolfspeed) leads the bearish charge. Short interest sits at 114.9% of free float — the highest reading among mid-caps in the ORTEX dataset. That figure rose 25 points in just two weeks. Zero shares remain available to borrow. The SiC chipmaker's debt load and cash burn are the core bear thesis.
HTZ (Hertz) is close behind. Short interest jumped 14 points in a week to 62.3% of free float. Like Wolfspeed, borrow availability is at zero. Both names are facing distressed balance sheets. Bears are not letting up.
CAR (Avis Budget Group) also trended overnight. The rental car sector is clearly in focus for short sellers this week.
DAL got a lift. TD Cowen raised its target to $106 from $92 — a 15% jump — keeping a Buy rating as airline sentiment recovers.
CHTR took the opposite hit. Goldman Sachs slashed its target to $125 from $185. That is a 32% cut. Broadband competition and rising costs are weighing on the cable sector.
John Malone spent over $10M buying LILA (Liberty Latin America) in late June. That stands out against a week of heavy selling. AMAT CEO Gary Dickerson filed a $35M sale. Three ROIV directors combined to file over $63M in exits.
PEP reports Q2 results next Wednesday. Volume trends and consumer pricing will be the key watch points after a tough spending environment.
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.
