Short sellers are piling into distressed names this week. Wolfspeed leads the charge.
WOLF is the most striking story among mid-caps. Short interest hit 107% of free float — up sharply from 71% just one week ago. That 36-point jump is the biggest weekly move among stocks worth over $1 billion. Borrowing costs have risen to 13.5% APR. Available shares to borrow: zero. Bears are fully committed.
Lucid Group is also drawing heavy attention. SI climbed to 34.4% of FF, up from 27.5% a week ago. The EV maker remains a favourite short target. Borrow costs sit at 10% APR with almost no shares left to borrow.
Chewy saw SI rise to 37.7%, up nearly 5 points week-on-week. Retail investors have historically fought back against Chewy shorts. With borrow availability at 731%, there is still plenty of ammo for new short positions.
Among smaller names, Edible Garden exploded from 7% to 153% SI of free float in a single week. Top Ships jumped from 13% to 50%.
Victoria's Secret and Papa John's both saw SI rise ~4.7 points. Consumer stocks are drawing fresh bearish interest as macro pressures build.
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.
