Short sellers made dramatic moves this week. SPCX — the newly-listed Space Exploration Technologies — saw its short interest explode from 3.65% to 26.3% of free float in just seven days. That is a jump of over 22 percentage points. Bears are clearly sceptical of its $1 trillion valuation.
Tango Therapeutics is another name drawing heavy short attention. Its SI hit 69% of free float, up nearly 15 points on the week. Availability sits at 582% of SI, meaning plenty of shares are still available to borrow.
Under Armour also drew fresh shorts. SI climbed to 31.6%, up 5.2 points over seven days.
On the other side, Wolfspeed saw dramatic short covering. SI collapsed from 102.8% to 78.9% — a 24-point drop. Availability is now at zero, suggesting shares to borrow have dried up. Chewy also saw covering, with SI falling 7.6 points to 67.8%.
Tesla remains a closely watched name ahead of Q2 earnings. Its SI held steady near 3% of free float. NVIDIA shorts are similarly quiet at just 1.3%, even as Fujitsu announces a major physical AI tie-up using its chips.
GameStop SI barely moved, sitting at 13.7%, with shorts showing little conviction either way.
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.
