Short interest surged across several US stocks this week. Wolfspeed leads the extremes — short interest has hit 131% of free float. Availability has dropped to zero. Bears are locked in with no easy exit. Chewy also saw shorts climb to 61% of free float. That's nearly double where it stood at the start of May. Grindr posted the sharpest single-week spike — jumping 10.6 percentage points to nearly 13% in just days.
CoreWeave director Jack Cogen filed over $106M in stock sales on May 28. The AI cloud company only listed in March. That scale of selling this close to the IPO is worth watching. On the buy side, Bill Gates added $102M in Republic Services shares. Meanwhile, the General Motors CEO filed a sale ahead of the company's June 2 earnings call.
Next week is busy. Dollar General and ULTA Beauty both report Monday. Dollar General carries fresh bearish momentum after its Q1 miss. Short sellers have reloaded. Medtronic posts Q4 results Tuesday. Options markets on Robinhood Markets and CrowdStrike both skew bullish into their prints. CrowdStrike now trades above every analyst target it just received.
European stocks face headwinds from rising bond yields and geopolitical noise. A Ukraine-EU $105bn loan deal ratification lifted defence names. The Dulux maker soared after rejecting a $14.5bn takeover bid. Oil markets are in focus after Chevron's CEO warned prices could jump over the summer as Strait of Hormuz disruptions remove up to 13 million barrels per day from global supply.
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.
