Bears Pile Into Chewy and Truckers

Short sellers turned aggressive last week. The biggest moves came outside the usual suspects, with CHWY, KNX, and WIX all seeing sharp increases in short interest.

Chewy stands out most. Its SI % FF jumped from 46.4% to 51.5% in just seven days. That is one of the highest readings in the mid-large cap universe. Bears are clearly unconvinced by any pet-retail recovery story.

Knight-Swift saw its short interest nearly double — rising from 6.0% to 10.9% of free float. Trucking demand worries are driving the bearish bet. Covenant Logistics also saw shorts build, up to 8.8% from 6.7%.

Wix.com shorts jumped from 11.1% to 15.8%. The web platform stock has faced pressure amid margin questions, and bears are adding conviction.

Wolfspeed remains a battleground. SI % FF hit 74.9%, and availability has fallen to near zero — making it extremely hard to add new short positions. Cost to borrow sits at 2.6%.

In a separate signal, VEON cost to borrow spiked to 9.7% — up 182% in a single week. That kind of CTB move signals sudden and intense shorting demand.

Tenable Holdings and SLM Corp also attracted fresh short interest, each rising around 4 percentage points week-on-week. Both are cybersecurity and student lending plays facing macro headwinds.

Data sourced from ORTEX. This is not financial advice.