Bears Pile Into Power and AI; Shorts Flee Biotech

Short sellers shifted positions sharply in the week to 30 October. The biggest movers tell a cleaner story than the static rankings.

Energy and AI attract fresh shorts. TLN saw its SI % of FF nearly double in a week, jumping from 5.5% to 10.7%. Cerebras Systems, the AI chip firm that floated recently, climbed from 15.2% to 19.8% of free float short. Shorts are building on both names.

Hertz stays a bear magnet. HTZ sits at 73.4% SI % FF with a cost to borrow of 162% APR and zero shares available to borrow. That squeeze setup has not changed, but new shorts cannot get in easily.

Wolfspeed under heavy pressure. WOLF hit 86.5% SI % FF. The semiconductor name has no shares available to borrow either. Bears are locked in.

Shorts exiting biotech. Pacira BioSciences shed 9 percentage points of short interest in a week, dropping to 9.5% from 18.6%. Xencor fell from 30.2% to 22.6%. Short covering in pharma is the clearest theme of the week.

Index radar. Corteva faces an MSCI World deletion probability of 77%, per ORTEX Index Rebalance Radar. A confirmed deletion would force $555M of selling from trackers on 30 November. That overhang is worth watching for short sellers.

Mahindra and Mahindra reports 5 November. ORTEX alt data shows India two-wheeler registrations running 82% below the same quarter last year, a dataset with a moderate fit as a leading revenue indicator for M&M.