Bears Pile Into Car Rentals and AI Chips

Short sellers made bold moves this week. Bears targeted car rental giants and AI-adjacent names while a surprise surge hit CBRS.

Cerebras Systems saw the sharpest SI jump among mid-cap names. Its SI % of free float leapt from 6.25% to 25.61% — a 19-point rise in just seven days. Bears are clearly sceptical of the AI chip hopeful's valuation.

Car rental stocks are firmly in the crosshairs. HTZ (Hertz) sits at 44.52% SI of free float, up from 39.9% last week. CAR (Avis Budget) climbed to 45.84%, up 6.2 points in seven days. Both names appeared in high-impact ORTEX news overnight under the headline "Bears Pile In."

GRND (Grindr) saw short interest nearly double. SI hit 22.21% from 12% a week ago — a 10-point spike. BIRK (Birkenstock) also drew fresh bearish interest, rising to 30.22% from 21.85%.

On the other side, WOLF (Wolfspeed) saw shorts cover aggressively. SI collapsed from 112% to 95.7% of free float. Its cost to borrow remains elevated at 8.3%.

GME short interest edged lower to 12.84%. TSLA remains lightly shorted at just 2.75% of free float.