Bears Flee GME, SMSI; WOLF Stays in Crosshairs

Short sellers are quietly retreating from some familiar names this week, while extreme short positions persist in others.

GME saw its short interest drop nearly 2 percentage points in seven days. It now sits at 11.4% of free float, down from 13.25% a week ago. Shorts are covering, possibly spooked by meme-stock momentum.

SMSI — Smith Micro Software — had the sharpest week-on-week unwind. Short interest collapsed from 10.2% to just 2.3% of free float. The trigger: Smith Micro was added to the Qualcomm Partner Network Directory, sparking a sharp rally and forcing shorts to cover.

LCID bears are also easing off slightly. Short interest fell 1.3 points to 33.1% of free float. Cost to borrow remains punishing at 27.2% APR.

Wolfspeed remains the standout. 93% of its free float is sold short. Availability is effectively zero — there are no shares left to borrow. CTB sits at 8.6% APR.

CHWY also stays heavily shorted at 58.6% of float. SMCI dropped 1.4 points to 13.9%, suggesting some bears are retreating there too.

Macro noise around Iran and the Strait of Hormuz is adding volatility. That typically pressures heavily shorted names as risk spikes.

This is not financial advice.