Short sellers are making waves into the long weekend. Wolfspeed remains the most extreme short in the market. Its short interest hit 131% of free float this week — up nearly 20 points. The distressed chipmaker continues to attract heavy bearish conviction.
Bitcoin ETFs are bleeding. Institutional outflows hit $2.8 billion over nine trading days. iShares Bitcoin Trust ETF is among the vehicles feeling that pressure. The pullback raises fresh questions about whether the institutional crypto trade is stalling.
Becton, Dickinson resumed shipments of ChloraPrep and PurPrep today after a brief supply hold for final release testing. The news removes a short-term overhang for the medical device maker.
Rare earth stocks are in disarray. MP Materials and USA Rare Earth are reportedly clashing over territory — despite both being positioned as US alternatives to Chinese supply. has exposure to rare earth supply chains and is caught in the crossfire.
On the deals front, ReNew Energy Global received a non-binding takeover proposal from CPP Investments today. Its special committee is evaluating the bid.
European stocks are under pressure. Defense stocks rallied after Ukraine ratified a $105 billion EU loan agreement. The Dulux paint maker — AkzoNobel — soared after rejecting a $14.5 billion rival takeover bid. Oil remains below $100 a barrel despite Chevron's CEO warning of a summer price spike. The Strait of Hormuz blockade has already removed up to 13 million barrels a day from global supply.
Consumer names ULTA and Dollar General report Tuesday. Medtech giant Medtronic follows Wednesday. Watch analyst targets — NetApp's consensus price target jumped $37 this week, the sharpest move among S&P names.
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.
