Bears Bite Chewy and Hertz Hard

Short sellers are piling into consumer names. Chewy saw its SI % of Free Float jump 14 points in seven days to 80.4%. That is a sharp move for a $5.3B stock. Bears are clearly betting the pet retailer faces a rough road ahead.

Hertz is even more squeezed at 84.1% SI % FF, up 7.6 points on the week. Shares available to borrow hit zero. That makes any new short position nearly impossible to open right now.

On the other side, Super Micro Computer saw shorts cover hard. SI % FF dropped 2.9 points to 16.3% as the AI server maker attracted buying interest. Chip stocks took a hit this week after SK Hynix disappointed. That may have pressured shorts to lock in gains.

Wolfspeed remains one of the most extreme situations in the market. SI % FF sits at 118.8% — short interest exceeds the entire free float. Cost to borrow is 10%.

GME shorts trimmed exposure too. SI % FF fell from 13.7% to 12.9%. PLTR also saw covering, dropping to 3.3% from 3.9% as the AI data firm stays in demand.