Bears Double Down on EVs and Chips

Short sellers hit LCID hardest this week. Lucid Group's SI % of Free Float jumped nearly 15 points in seven days to 49.7%. The EV maker's stock has fallen 21% in three months. Bears see no end to the pain.

WOLF is another battleground. Wolfspeed's short interest rose 8.7 points to 83.7% of FF — one of the highest readings in the US market. Availability is zero. There are no shares left to borrow. With a 51% three-month price drop, short sellers have been right.

CHWY saw SI climb nearly 14 points to 76.8%. That's a striking level for a $8.2B retailer. Shorts are piling in even as the stock gained 10% in three months.

EVCM carries the week's most expensive short. Cost to borrow sits at 39.4% APR. Only 2.2% of short interest has available shares to replace — making new shorts extremely costly.

On the other side, GME saw shorts bail fast. Short interest dropped 5.7 points to just 2.2% of FF — a multi-year low. The meme trade is quietly unwinding. CAR (Avis Budget) also saw 5 points of covering, falling to 31.6%.

Tech names including NVDA and AAPL remain lightly shorted at under 2% FF, with headlines pointing to an AI-linked selloff this week. Bears are looking elsewhere.