USAR Bears Retreat — But 16% Float Still Short Into Debut Print

[USA Rare Earth](/s/us/usar) walks into its first full earnings report with a meaningful short base still in place — and a Street that is growing more constructive by the week.

Short sellers have been quietly covering. Short interest has dropped 40% over the past month, from roughly 37 million shares in early April to 22.3 million now — equal to 16.8% of the free float. That is still a…