Bears Pile Into AI, Rental Cars, and Sandals

Short sellers moved fast this week. Cerebras Systems saw the biggest jump — SI % of Free Float leapt from 6.25% to 25.6% in just seven days. That's a near-tripling of bearish bets on the AI chip firm.

Rental car names are under heavy fire. Avis Budget sits at 45.8% SI % FF, up 6.2 points in a week. Hertz hit 44.5%, rising 4.6 points. Availability on Birkenstock is razor-thin at just 3.4%, signalling heavy demand to borrow shares. Bears clearly see consumer stress ahead.

Birkenstock climbed to 30.2% SI % FF, up 8.4 points. Cost to borrow jumped to 16.7% — the highest among this week's movers. That premium signals strong bearish conviction.

Quantum computing stocks are also in the crosshairs. IonQ carries 15.2% SI % FF. With availability at just 19.2%, finding shares to borrow is increasingly difficult.

Summit Therapeutics rose to 28% SI % FF, up 5.3 points. Biotech bears remain active amid uncertainty over its lung cancer pipeline.

Grindr was a surprise mover, jumping from 12% to 22.2% in one week.