Bears Circle CoreWeave as Wolfspeed Hits 103%

Short sellers are piling into CoreWeave fast. The AI cloud stock's short interest hit 33.1% of free float on July 9. That's up from 28.3% just one week earlier — a 4.76 percentage point jump in seven days.

Wolfspeed remains the most extreme name on the board. SI sits at 103.1% of free float, rising another 4.5pp this week. The chipmaker has become a persistent bear magnet amid its ongoing financial struggles.

Chewy is another name drawing fresh shorts. SI reached 74.9%, up from 70.5% a week ago. The pet retailer faces pressure as consumer spending stays cautious.

On the other side, Hinge Health saw bears retreat sharply. SI dropped from 18.1% to 14.0% in a week — a 4.1pp cover. CrowdStrike had an even cleaner squeeze signal. Its SI fell from 2.9% to 0.9%, down nearly 2pp after a strong run.

Meme stalwarts GameStop and AMC were flat. The meme fuel is gone for now.

Macro-wise, big bank earnings dominate the week. Wells Fargo, Bank of America, and Netflix all report. Shorts on those names are minimal — under 3% each — suggesting the street isn't betting against this earnings season just yet.