As the market picks up steam this month, led by gains in technology names, some hedge funds are betting against a handful of retailers and auto companies. The S & P 500 , which crossed another bull market threshold on Jan. 19, has continued to climb for the past six trading sessions alongside the Nasdaq Composite . The broad market index has also closed at a record high for five straight trading days — its longest streak since November 2021 — and is on pace to close the week more than 2.2% higher. Even as the market rallies, the latest short interest data reveals several stocks that could see losses. Short interest measures the number of shares that an investor has borrowed and sold, in hopes of buying the stock back later at a lower price, pocketing the difference. CNBC Pro screened FactSet data for stocks trading on the New York Stock Exchange and Nasdaq Exchange with the most short interest as of Jan. 12. Each of the stocks has a market capitalization of at least $100 million and short interest representing at least 25% of their float, or the number of outstanding shares that are available to be traded. Here are the names of these heavily shorted stocks: Fisker saw a continued amount of short interest, up 12% to more than 100 million shares, or about 53% of the stock’s float. The electric vehicle maker is down more than 54% so far this year, adding to its woes after a dismal 2023, when shares plunged by 76%. Fisker has struggled to meet delivery goals and slashed its year-end production guidance. That’s left Fisker’s share price under $1. Lucid Group , another EV maker, saw short interest increase to about 29% of its float. Shares have plummeted more than 36% so far this year. Traders also mounted bets against Vietnamese EV manufacturer VinFast Auto , which saw its short interest climb 12% to 8.6 million shares, or about 27% of its float. VinFast delivered a below-target number of cars in 2023 due to market challenges and slow EV adoption in some regions, but the company said it saw a ramp-up in deliveries in the fourth quarter of 2023 compared to previous quarters. Companies that make auto parts, including Luminar Technologies and Atmus Filtration , also saw short interest increase. Luminar is down nearly 19% this year, even after jumping more than 23% this week. On Thursday, Goldman Sachs lowered its price target to $2 from $3 and kept its sell rating. A few retailers saw increased short interest as well. Short interest increased 3% and 8% for thrift store chain Savers Value Village and department store Kohl’s , respectively. Shares of Savers Value Village have gained 4.8% this year, including a 5.3% advance this week, after the company said in early January that it expects fourth-quarter and full-year net sales for 2023 to increase. Shares of Kohl’s, on the other hand, have lost a little less than 1%. Several biotech companies saw major declines in their short interest in the first half of January, including Dyne Therapeutics , Enliven Therapeutics , Cassava Sciences and Allogene Therapeutics . — Additional reporting provided by CNBC’s Nick Wells