Bears Back Off Wolfspeed; Dave Shorts Pile In

WOLF saw its short interest plunge 18.7 percentage points in a week. SI now sits at 112% of free float, down from 131%. That is a massive short cover in seven days. Bears are retreating fast despite the stock remaining one of the most shorted in the US.

DAVE tells the opposite story. Short interest in the fintech jumped 8.8 points to 29.2% of free float. That is one of the sharpest weekly rises on the market. WaterBridge Infrastructure also drew new shorts, up 7.4 points to 35% of FF.

SLM Corporation — better known as Sallie Mae — climbed 4.1 points to 16.2%. Student loan sentiment is souring. Corsair Gaming added 3.2 points to 17.2%.

On social platforms, COIN, TSLA, and GME remain crowd favourites. GME sits at 13.3% SI with little change. Coinbase is flat at 11.4%. TSLA bears have largely stood down — SI is just 2.7%.

Polestar quietly picked up 2.8 more points of short interest this week, hitting 10.3%. The EV maker continues to struggle in a crowded market.

Gap bucked the trend. SI fell 2.2 points to 11.6% as shorts cut exposure after the retailer's recent upbeat signals.