KRUS News & Events

Welcome to this week's installment of "The Short Interest Report" - The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 1.8%, the Nasdaq Composite was up 3.7%, the Russell 2000 index was up 1.4%, the Russell 2000 Growth ETFwas up 1.9% and the Russell 2000 Value ETFwas up 1.1% in the five-day trading session range through May 7.SHORT INTEREST GAINERSOrtex-reported short interest on Vital Farmscontinued its steep ascent this week, rising another three percentage points to 40.6% - the highest level on record. Days-to-cover on the name slipped from 5.5 to 4.9 as trading volumes soared to their highest levels of the year after the company reported Q1 results on Thursday. As discussed last week, the resurgence in bearishness since the final week of March coincided with the stock settling into a trading range, though the severe post-earnings decline rewarded shortsellers as shares fell over 20% in a single session. The 5-day period tally through Thursday saw the stock fall 30%, and year-to-date, Vital Farms is now down 70%.Ortex-reported short interest on Kura Sushitroughed at about 27% early last week just as shares slipped to their lowest level of the year. Bears have increased exposure, however, with the stock price settling into a sideways trading range. Short interest as a percentage of free float rose from 27.2% to 30.3% this week while days-to-cover is nudged higher from 6.3 to 6.6. The company is about a month out from reporting its Q2 results in early April, along with the departure of its CFO, which prompted an 18% decline in the stock price, even though the Street bumped up their price targets on the name. In the five-day period covered through Thursday of this week, shares of Kura Sushi were up 2.2%, and year-to-date the stock is up about 8%.Ortex-reported short interest on Fluence Energyhas nudged higher from 25.4% to 26.9% and days-to-cover on the name was unchanged at 4.9. The six-week-long uptrend in bearish positioning will surely be tested in the coming sessions however as the stock is soaring after better-than-expected results out Wednesday evening and positive research notes from sell-side analysts – Roth Capital pointed to Fluence Energy's "significant commercial momentum" in upgrading the stock to a Buy while Goldman Sachs cited the company's data center opportunity in bumping up its price target and retaining its Buy rating. In the five-day period covered, the stock is up 56%, with another 28% gain coming on Friday.SHORT INTEREST DECLINERSShares of Newegg Commercehit 2026 lows with a 16% decline in the five-day period covered through Thursday and another 12% selloff on Friday, having now retreated by about 45% from early-April highs in just a three-week span, and short-sellers are seemingly booking profits. In the five-day period covered through Thursday, short interest as a percentage of free float on the online PC hardware and electronics retailer fell from 51.0% all the way down to about 25% - the lowest level since December – according to Ortex data. Days-to-cover on Newegg nudged higher meanwhile, rising from 4.2 to 4.3.Ortex-reported short interest on Concentrixhad reached multi-month highs near 30% entering the final week of April, though bearish positioning has now receded for the second consecutive week, slipping from 26.3% to 20.3% in a 5-day period covered through Thursday. Days-to-cover on the name also slid from 7.0 to 6.3, further skewed by elevated trading volume - the second highest session of the year - seen last Friday. The stock was down sharply after the company reported a Q1 earnings miss in late March and then saw its lowest levels of the year in late April before finding its footing this week - shares were up 7% this week, though year-to-date the stock remains down 39%, with another 5% loss on Friday tracking broader weakness in IT services.

The major averages closed sharply higher in a relief rally after the announcement of a two-week ceasefire between the U.S. and Iran before a key escalation deadline. Crude oil fell over 15% to roughly $95 per barrel, effectively reversing the inflation shock that had been tightening financial conditions throughout March and early April.However, the Strait of Hormuz is only partially reopening and structural supply disruptions haven't fully cleared. Additionally, the speaker of the Parliament of Iran, Mohammad Bagher Ghalibaf, said this afternoon that the country's ceasefire with the U.S. has already been violated, according to Bloomberg. Ghalibaf said three clauses of the ceasefire had been violated so far.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Deltareported, with the company noting that it expects Q2 non-fuel unit costs growth similar to Q1Levi Straussprovided areport for Q1Bed Bath & Beyondsubstantially all assets of F9 Brands for $150MShellprovided, citing uncertainty around the "ongoing situation" in the Middle EastIn minutes for the latest FOMC meeting, the Federal Reserve stated that theof the FOMC thinks inflation progress may be slower, with some Fed members seeing the possibility of a rate hike2. WALL STREET CALLS:Coinbaseto Underweight at BarclaysFreshpetto Buy at TD CowenT-Mobileto Buy at MoffettNathansonGeneral Dynamicsto Hold at Deutsche BankSeaport says Broadcom"still in the pack,"to Neutral3. AROUND THE WEB:AbbVieis suing the White House over its discount drug program, Axios reportsA pro-Iranian cybercrime outfit has claimed responsibility for hacks of Chimeand Pinterestthat forced the websites of both companies offline, Bloomberg saysThe Trump administration has rejected requests from Ford Motorand other U.S. automakers for relief from the tariffs on aluminum after two fires at the Novelis aluminum plant in Oswego, New York took the facility out of commission until at least this June, WSJ reportsGreece will prohibit access to social media for children under the age of 15 starting January 1, 2027 due to rising anxiety, sleep issues and the addictive design of the sites, Reuters saysTikTok, whose U.S. business counts Oracleas an investor, intends to invest $1.16B to build a second data center in Finland as it moves data storage for European users to the continent, Reuters reports4. MOVERS:Applied Materialswas higher afterRichtech Roboticsincreased after announcing awith NewConsultancyMeta Platformsgained after launching itsSM Energylower after Roth Capitalthe stock to NeutralExxon Mobilfalls after announcing it sees 6% of upstream production5. EARNINGS/GUIDANCE:Sealsqprovidedand backed its guidance for FY26RPM, with EPS and revenue beating consensusKura Sushiand raised its guidance for FY26Nurix Therapeutics, with EPS missing consensusAehr Test Systemsand backed its guidance for the second half of the yearINDEXES:The Dow rose 1,325.46, or 2.85%, to 47,909.92, the Nasdaq gained 617.15, or 2.8%, to 22,635, and the S&P 500 advanced 165.96, or 2.51%, to 6,782.81.

The major averages were sharply higher near noon in a relief rally as a geopolitical pivot has flipped sentiment. The announcement of a two-week ceasefire between the U.S. and Iran before a key escalation deadline has triggered a broad risk-on move across global assets. Crude oil is down over 15%, falling to roughly $95 per barrel, effectively reversing the inflation shock that had been tightening financial conditions throughout March and early April.However, this rally is built on a temporary ceasefire and not a permanent resolution. The Strait of Hormuz is only partially reopening, and structural supply disruptions haven't fully cleared. Any breakdown in talks could quickly reintroduce volatility, but for now the VIX has moved to recent lows.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Deltareported, with the company noting that it expects Q2 non-fuel unit costs growth similar to Q1Levi Straussprovided areport for Q1Bed Bath & Beyondsubstantially all assets of F9 Brands for $150MShellprovided, citing uncertainty around the "ongoing situation" in the Middle EastFollowing the announcement of a, travel stocks such as United Airlinesand Royal Caribbeanrose while energy stocks like Chevronand Occidentalfell2. WALL STREET CALLS:Coinbaseto Underweight at BarclaysFreshpetto Buy at TD CowenT-Mobileto Buy at MoffettNathansonGeneral Dynamicsto Hold at Deutsche BankSeaport says Broadcom"still in the pack,"to Neutral3. AROUND THE WEB:Stellantisis in discussions with Leapmotor to jointly develop an Opel-branded SUV that would use Leapmotor's technology while being produced at Stellantis' Zaragoza plant in Spain, Reuters reportsA pro-Iranian cybercrime outfit has claimed responsibility for hacks of Chimeand Pinterestthat forced the websites of both companies offline, Bloomberg saysThe Trump administration has rejected requests from Ford Motorand other U.S. automakers for relief from the tariffs on aluminum after two fires at the Novelis aluminum plant in Oswego, New York took the facility out of commission until at least this June, WSJ reportsGreece will prohibit access to social media for children under the age of 15 starting January 1, 2027 due to rising anxiety, sleep issues and the addictive design of the sites, Reuters saysTikTok, whose U.S. business counts Oracleas an investor, intends to invest $1.16B to build a second data center in Finland as it moves data storage for European users to the continent, Reuters reports4. MOVERS:Applied Materialshigher afterRichtech Roboticsincreases after announcing aOscar Healthgains after itsSM Energylower after Roth Capitalthe stock to NeutralExxon Mobilfalls after announcing it sees 6% ofby the Middle East in Q15. EARNINGS/GUIDANCE:Sealsqand backed its guidance for FY26RPM, with EPS and revenue beating consensusKura Sushiand raised its guidance for FY26Nurix Therapeuticswith EPS missing consensusAehr Test Systemsand backed its guidance for the second half of the yearINDEXES:Near midday, the Dow was up 2.72%, or 1,265.18, to 47,849.64, the Nasdaq was up 2.96%, or 651.55, to 22,669.40, and the S&P 500 was up 2.47%, or 163.69, to 6,780.54.