Tesla sold 79,478 China-made vehicles in April, according to Reuters citing CPCA data. That number is closely watched as a gauge of EV demand in the world's largest auto market. General Motors faces a separate headache — it recalled 40,440 brake fluid containers over contamination risks. Neither story is catastrophic on its own, but together they keep pressure on the auto sector.
Chip stocks dominate options flow today. NVIDIA has active positioning across 28 expiry dates. Intel is up 160% year-to-date with RSI at 84.5 — yet call buyers keep piling in. Memory names Micron and SanDisk are also seeing heavy positive bets. Meanwhile, Samsung's stock market value hit $1 trillion on AI chip euphoria, pushing South Korea's Kospi to a new record — the AI trade is global.
Short sellers are tightening positions in several names. SoundHound AI sits at 37.5% short interest of free float with zero shares left to borrow. Wolfspeed is at 52.7% with availability near zero at 2.4%. Any positive catalyst in either name could spark sharp moves. GME added 2.5 percentage points in a week to reach 16.3%.
Today's slate includes Albemarle and Akamai Technologies. Europe's Enel also reports. The week peaks Wednesday when Cisco — $372bn market cap — releases results.
Fortinet consensus targets rose 6% to $95.35. Corning targets jumped to $178.67. Both names carry low short interest, signalling bulls are in firm control.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
