Bears Pile In: SpaceX, AI Names Lead SI Surge

Short sellers turned aggressive last week. SPCX — Space Exploration Technologies — saw its short interest jump to 36.4% of free float, up from 32.9% in just seven days. That's a 3.6 percentage point rise. Bears are betting the SpaceX listing excitement fades fast.

AXT, Inc. posted the biggest weekly move. Its SI % FF leapt from 16.9% to 21.6%, a 4.6pp swing in one week. Shorts are circling this small-cap semiconductor play hard.

In AI land, SoundHound AI remains deeply in bear territory. SI stands at 43.2% of free float with a cost to borrow of 12.7%. Availability has hit zero — no shares left to borrow. That's a squeeze setup worth watching.

Lucid Group tells a similar story. SI sits at 32.1% of FF and borrowing costs run at a punishing 46%. Shares to borrow are almost gone at 0.26% availability.

Hertz remains the most structurally shorted name. SI hit 66% of free float with zero availability. The stock has shed 62% in three months. Bears are not letting up.

On the high short score list, EverCommerce tops the table with a score of 95 and a cost to borrow above 40%. ChronoScale Holdings carries an eye-watering 54% CTB — among the most expensive to short right now.

RingCentral and MGM Resorts also saw notable SI increases, both rising around 2pp over the week. Neither looks like an obvious short squeeze candidate yet, but the building pressure is worth monitoring.