Bears Dig In as Wolfspeed Hits 60% Short Float

Short sellers are making bold moves this week. Wolfspeed tops the US large-cap movers list. Its short interest jumped nearly 10 percentage points in seven days to 60.4% of free float. Shares are down over 13% in three months. Bears see no floor yet.

Galaxy Digital tells a different story. Shorts are holding firm even as the stock has rallied 62% in a month. SI sits at 13.6% of FF. Availability is ample at 100%. A squeeze is possible if momentum continues.

SailPoint is seeing the opposite trend. Short sellers are quietly unwinding positions. SI stands at 23.5% FF, but covering activity is picking up. ORTEX flagged options hedges building at the same time — a mixed signal worth watching.

On the extreme end, Wheels Up carries a staggering 174.6% SI of free float — well above 100%, indicating heavy recycled shorting. Availability is near zero at just 0.18%. Cost to borrow has risen to 15.4% APR.

AMC Entertainment saw shorts cover sharply this week. SI fell from 16% to 12.2% of FF — a nearly 4-point drop in seven days. Availability remains very high at 237%. No obvious squeeze pressure, but covering is real.

ADT is a new entrant to watch. SI climbed 3.7 points to 10.3% of FF this week with no prior bearish history. Bears may be reacting to fundamental concerns. Keep an eye on it.

Data: ORTEX, as of May 7, 2026. Not financial advice.