Bears Pile Into Chewy and Wix

Short sellers have been busy this week. The biggest moves came in names where fresh pessimism is clearly building — not the usual suspects.

Wix.com jumps onto radar. WIX saw its short interest leap 7.5 percentage points in just seven days. It now sits at 18.2% of free float. Availability of shares to borrow has dropped sharply to just 28% of SI. That squeeze of supply is worth watching.

Chewy stays under heavy fire. CHWY short interest hit 54.9% of free float. That's up 4.1 points week-on-week. Bears are not backing down on the pet retail name despite its near-$5bn market cap.

GameStop shorts capitulate. GME SI collapsed from 15.7% to just 2.7% in one week — a drop of 13 points. That is the biggest short covering in our dataset. Social chatter around the meme stock appears to have spooked bears out of their positions.

Burry dumps NVDA and PLTR puts. Michael Burry was in the news today after reports he exited December puts on NVDA and PLTR. NVDA short interest remains low at just 1.2% of float.

Lucky Strike Entertainment LUCK carries a punishing 35.6% cost to borrow with SI at 17%. The bowling alley operator is down 37% over three months. Bears are paying up to hold the short.

Fox Corporation shorts retreat. FOXA SI fell 2.2 points to 24.5%. Short sellers appear to be trimming ahead of the US election season ad spend cycle.