Bears Load Up as Earnings Week Heats Up

Short sellers are making bold moves this earnings week. ORTEX data as of August 6 flags several notable shifts worth watching.

Wolfspeed tops the most-shorted list. Its SI % of Free Float stands at 78.6%. Shares have fallen 30% in three months. Availability is zero — there are no shares left to borrow. That setup can ignite fast.

Hertz is close behind at 65.4% SI % FF. The stock is down 62% over three months. Availability has also dried up completely. Bears are locked in, and so are risks.

Biggest weekly jumps belong to Space Exploration Technologies, where SI % FF climbed from 32.9% to 36.4% — a 3.6-point rise in seven days. Cost to borrow hit 10.1% APR. Bears are piling in aggressively. RingCentral also saw SI rise from 12.2% to 15.1%, a near 3-point gain, with news flagging it as a bear target ahead of earnings.

On the squeeze side, Chewy saw SI drop from 107.3% to 102.3% FF. That is still extreme, but the direction has shifted. Availability stands at 392% — shorts can be covered easily.

Super Micro Computer remains heavily watched. SI sits at 17.0% FF with 141% availability. Bears keep circling this name around every earnings cycle.

EverCommerce carries the highest short score at 95, with 40% cost to borrow and only 7% availability. That combination signals extreme short conviction.

Data from ORTEX. Not financial advice.