Bears Load Up Ahead of Earnings Week

Short sellers went on the offensive heading into August. The biggest movers tell a clear story: bears are piling in ahead of high-risk earnings.

HTZ leads the charge. Short interest hit 84.6% of free float, up nearly 10 percentage points in just seven days. Availability has hit zero — there are no new shares left to borrow. With the stock down 74% over three months, shorts smell blood ahead of Hertz's earnings report.

CHWY is not far behind. SI jumped from 72% to 82% of free float in a week. Bears rebuilt positions as the stock rallied into its earnings date. Availability sits at 367%, so there is no squeeze risk yet — but the conviction is notable.

SOUN is a different story. Shorts are trapped. SI sits at 43% of free float, cost to borrow has climbed to 15.1% APR, and availability is zero. That is a combustible setup with earnings on deck.

CAR — Avis Budget — added 7 percentage points to reach 36% SI. Bears are betting the rental car sector stays under pressure alongside Hertz.

WYFI saw the steepest weekly jump: +14 points to 53% of free float. Cost to borrow stands at 9%. The IT services name is up 71% in three months — a crowded short on a rising stock.

This is not financial advice.