Bears Pounce on Chewy, Ionis and Cerebras

Short sellers stepped up bets across several notable names this week. CHWY tops the liquid-stock leaderboard. Its SI % FF hit 81.4%, up 2.2 percentage points in seven days. Shares are down over 10% in three months. Availability sits at 387% of short interest — bears still have plenty of ammo.

IONS is the week's standout mover. Short interest jumped 22% in one week to 11.9% of float — an 11-month high. The stock has dropped 35% from recent highs after a setback with its Wainua drug and a wave of analyst downgrades. Shorts clearly see more pain ahead.

AI chip maker CBRS also saw rising pressure. SI % FF climbed 1.6 points to 16.8% of float. Availability is near-zero at just 0.7%, signalling that borrowable stock is essentially gone. That squeeze setup bears watching.

On the other side, WOLF saw short covering. SI % FF fell 6.6 points to 75.5% — still extremely high but the largest single-week reduction among large-caps. Some bears appear to be locking in gains on the beaten-down chip maker.

LCID shorts also trimmed positions. SI % FF eased to 32.9% from 35.4% a week ago.