Bears Circle Chewy, Oklo, and Wolfspeed

Short sellers are on the move. The latest ORTEX data shows meaningful SI jumps across mid-cap names, with a few standouts demanding attention.

CHWY is the biggest mid-cap mover of the week. Short interest rose nearly 11 percentage points. It now sits at 75% of free float. That is a striking level for a $4.8B retailer. Bears are clearly unconvinced by any recent optimism.

WOLF remains a short seller magnet. Wolfspeed's SI hit 83.6% of free float. Availability has collapsed to zero — there are essentially no shares left to borrow. The semiconductor stock is down 47% over three months. With EPS momentum at -14%, the bearish thesis shows no signs of fading.

Nuclear power play OKLO saw a 4-point SI jump this week. Bears have pushed short interest to nearly 22% of free float. The stock has been a social media darling, but skeptics are growing louder.

M (Macy's) also drew fresh shorts. SI climbed 4.5 points to 17% of free float. Retail headwinds and a challenging consumer backdrop appear to be weighing on sentiment.

Among smaller names, BDRX saw a dramatic 94-point weekly SI surge to nearly 99% of free float. A judge declined to force a Google breakup, an event flagged as high-impact overnight, which may ripple into tech-adjacent shorts.

Across the board, bears are not letting up.