Bears Pile Into CoreWeave as Lucid Burns Bears

Short sellers added to positions in CoreWeave at the fastest pace among large-cap US names this week. SI % of FF rose 3.7 percentage points to 23.7% in seven days. The AI cloud company has become a fresh target as debt concerns around big-tech infrastructure spending dominate credit markets.

Lucid Group remains one of the most painful shorts on Wall Street. SI sits at 63.5% of free float, with a cost to borrow of nearly 18% APR. Shares are down 55% over three months. Bears are staying put despite that pain.

Wolfspeed and Chewy hold the top two spots by SI % FF, at 86% and 89% respectively. Wolfspeed has zero shares available to borrow, making it very hard to add to existing positions.

SoundHound AI carries 40% SI % FF with no availability. That combination raises short squeeze risk for any unexpected positive news.

On the other side, Medtronic saw the steepest SI drop among large US names. Short interest fell 5.3 percentage points to 4.5% over the week.

Tesla reports today. SI stands at just 2.6% of free float. German car registration data, a leading indicator tracked by ORTEX, is running up 269% year-on-year for the current quarter. That reading points to unusual strength heading into today's print.

Pennsylvania online sports wagering revenue rose 66% year-on-year in September, a positive backdrop for gaming names like MGM Resorts, where short interest fell 2.1 points to 9.4% this week.