Bears Pile Into CoreWeave as Chewy Shorts Near Record

Short sellers stepped up pressure on CoreWeave this week. SI as a percentage of free float climbed to 24.8%, up from 21.2% a week ago, a rise of 3.6 percentage points. Morgan Stanley cut its price target on the AI cloud stock to $70 today, adding fuel to the bearish case.

Chewy remains one of the most-shorted large-cap names in the US market at 86.7% of free float. That is a sharp climb from 66% in early October. Days to cover stands near 2.9, and availability is unusually high at 534%, meaning plenty of stock is still available for new short positions.

Wolfspeed carries 83.8% SI of free float with nearly 10 days to cover. Zero availability signals borrow is essentially exhausted. Lucid Group sits at 64.6%, ticking up 1.9 percentage points over seven days.

Gas producer BKV Corporation saw the sharpest SI jump of the week among mid-caps. Short interest rose nearly 4 percentage points to 38.6% of free float, the highest level since the company came to market.

Tesla remains lightly shorted at just 2.65% of free float, even as commentary about Elon Musk's earnings call projections circulates widely. GameStop shorts hold 10.2% of float, steady and well off its meme-era highs.

The ORTEX Index Rebalance Radar flags Vaxcyte as a live two-way flow setup. At a $9.9bn market cap, it sits simultaneously near the Russell 1000 entry and Russell 2000 exit lines, with a 30 October cut-off approaching.