Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Bears have been busy this week. Short interest data from ORTEX shows two large-cap names saw aggressive new positioning in the five days to 9 October.
CHWY saw the biggest jump. Short interest as a percentage of free float leapt from 67.4% to 87.3%, a move of nearly 20 percentage points in one week. That puts Chewy among the most heavily shorted mid-cap names in the US market. Availability of shares to borrow sits at 473%, meaning plenty of stock remains on loan, but the pace of new shorting stands out.
MDT is the other major mover. Medtronic's short interest climbed from 1.6% to 10.1% of free float in the same window, a more than sixfold increase. The medical device giant reports earnings on 20 October, and bears appear to be positioning ahead of the print.
WOLF already carries one of the highest short scores in the market. Wolfspeed's SI % FF edged higher to 87.3%, with a days-to-cover ratio above 11. Cost to borrow remains low at 2.1%, but the persistent short pressure on this semiconductor name continues.
MRNA is drawing attention for a different reason. ORTEX Index Rebalance Radar puts the probability of Moderna rejoining MSCI North America at 81%, which would force roughly $3.3bn of buying. Short sellers may be watching the 19 October ranking cut-off closely.
GM reports earnings on 20 October. German car registration data, which ORTEX Alt Data measures as leading GM revenue by 15 days, is running 133% above the same quarter last year, three months in a row. That is one data point worth watching alongside the short interest picture heading into the print.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
