Bears, Builders, and a $411M Chip Dump

US: Short Sellers Rotate Hard

Short sellers reshuffled their books this week. GameStop bears capitulated — SI % of Free Float collapsed from 10.3% to just 1.1% after CEO Ryan Cohen filed a $20M open-market purchase. When insiders buy that boldly, shorts cover fast.

The freed-up capital moved swiftly into new targets. Lucid Group saw SI jump 14 percentage points to nearly 50% of free float. Shares to borrow are almost gone — availability sits at just 0.4% of short interest. Options flow this week leaned bearish on Lucid too, a rare double signal. Wolfspeed attracted the same crowd, with SI at 83% of free float and growing negative options bets alongside Lucid.

NVDA Insiders Sell Big

At NVIDIA, board member Mark A. Stevens filed $411M in open-market sales between August 31 and September 2. No 10b5-1 plan was noted. General Counsel Timothy Teter added another $5M in sales the same days. The cluster of selling at the chip giant is the week's standout insider story.

Analysts Lift Travel, Back AppLovin

Analysts backed AppLovin with a fresh Buy rating. Travel stocks got a broad tailwind — targets rose on Airbnb, Expedia, and DoorDash. Kroger was the lone downgrade, with consensus targets trimmed on margin pressure.

UK Housebuilders in Focus

Across the Atlantic, UK construction earnings dominate the diary. Kier Group releases full-year results Monday. Barratt Redrow is also on the calendar this week. Analysts will watch margin recovery closely in a still-pressured UK housing market.

Lennar reports in the US on Tuesday — a key read on American housing demand with rates still elevated.