Short Sellers and a Confidence Signal

Bears piled into MMED this week. Short interest jumped to 102.9% of free float, a 24-point rise in seven days. Availability has collapsed to 1.1%. Wolfspeed stays heavily targeted at 84.2% short interest with zero shares available to borrow. On the other side of the ledger, Uber COO Andrew MacDonald filed a $5.3 million open-market purchase on September 8. That is a discretionary buy from the company's second-ranking officer. Uber's short interest sits at just 2.3% of free float.

Analysts Split on Consumer and Autos

Estée Lauder lost its buy consensus and now faces a wall of neutral ratings. Delta Air Lines picked up a target lift to $101.69 with all 24 analysts bullish. Korean air traffic hit a record September high, with 38.8 million passengers, supporting the airline demand story. General Motors also saw its target nudge up to $104.65.

TSX Rebalance Clock Ticks

ORTEX Index Rebalance Radar flags $982M of forced selling in Teck Resources if Anglo American's acquisition closes, with a 90% completion probability. The expected deletion from the S&P/TSX Composite would trigger 12.5 days of normal volume. Finland's record EV September, up 68% year-on-year per ORTEX registration data, adds a separate tailwind to the broader electrification picture heading into year-end.