Bears Pile In: Hertz, Wolfspeed, and Biotech in Focus

Short sellers tightened their grip on several names this week. Hertz Global Holdings stands out as one of the most extreme cases in US markets. Short interest sits at 73.4% of free float. The cost to borrow has rocketed to 470%, and available shares to borrow have hit zero.

Wolfspeed is in similarly dire shape. The semiconductor maker carries 88.9% of its free float sold short. No shares remain available to borrow. The stock has fallen 27.6% over three months.

The week's biggest mover on fresh short pressure was Braveheart Bio. Its SI jumped 6.7 percentage points in seven days to reach 43.5% of free float. The biotech has a market cap of $1.5 billion, making the move harder to dismiss as a small-cap quirk.

MGM Resorts also drew fresh shorts. Its SI climbed 2.3 points to 14.3% of free float. Casino and leisure stocks face pressure as the US job market runs hot. October nonfarm payrolls hit their highest October reading since 1997 at 159.3 million, pushing wage expectations higher and squeezing consumer-facing margins.

On the other side, shorts covered hard in Sprouts Farmers Market. Its SI fell 3.2 points to 11.2%. Kimberly-Clark saw a 2.8-point drop in SI to 5.8%. Both suggest short sellers are stepping back from consumer staples.

Polestar reports earnings on 12 November. ORTEX Alt Data tracking Dutch and German car registrations shows Dutch sales running 68% below last year's quarter, a dataset with a strong 60-day lead on revenue.