Bears Pile In, But Wolfspeed Shorts Retreat

Short sellers made aggressive new bets this week. Cerebras Systems saw the biggest move. Its short interest leapt from 6.25% to 25.6% of free float in seven days — a near four-fold jump as bears targeted the AI chip firm.

Grindr also attracted fresh shorts. SI climbed from 12% to 22.2% of free float. Birkenstock saw a similar surge, rising to 30.2% from 21.9%. The sandal maker now carries a 16.3% cost to borrow, signalling tight supply of shares to lend.

Car rental names remain firmly in bear territory. Avis Budget Group sits at 45.8% SI and Hertz at 44.5%. Both rose around 6 and 5 percentage points over the week.

On the other side, Wolfspeed shorts are covering fast. SI fell from 112% to 95.7% of free float — still extreme, but the trend is down. Nuclear energy play Oklo saw shorts drop sharply too, from 21% to 16.6%, suggesting some bears are exiting as the energy theme cools.

CrowdStrike heads into its June 17 earnings with SI at just 3%. Options skew is rising. Analysts and traders are watching closely for any post-print selloff.