Bears Pile Into Wolfspeed and Hertz

Short sellers stepped up their activity this week, with several names seeing meaningful jumps in bearish positioning over just seven days.

Wolfspeed remains the standout. SI hit 88.6% of free float as of 29 October, up 4.8 percentage points in a week. Zero shares are available to borrow. The semiconductor maker has shed 7% over three months and short sellers show no sign of stepping back.

Hertz carries 73.5% SI with a cost to borrow of 150%. That extreme borrow cost signals how aggressively bears are fighting for scarce supply. Lucid Group sits at 65.1% SI, down 59% in three months as EV demand continues to soften. ORTEX alt data shows first-time EV registrations fell 29% year on year in August, a headwind for the broader sector.

Among the week's biggest movers, Cerebras Systems saw SI jump 5.2 percentage points to 20.1% in seven days. The AI chip firm went public recently and bears are building positions fast.

Carvana holds 9.4% SI. ORTEX consumer credit data shows delinquencies in Carvana's ABS trusts were 4.6 standard deviations above their own history as of 15 October. That is the largest outlier reading in the consumer credit dataset, a sharp signal of stress in its loan book.

EverCommerce carries the highest short score in the dataset at 97, with just 0.6% availability and 23 days to cover.