Don't agree with that theory. Who hasn't bailed from their short at 2.2 cents? There's big liquidation risk on your position when flying that close to the sun. What do you have to gain still holding a short at this point?
This cow was milked to death for months in the lead up but less than 2% of free float remained short when they went into admin - notional value of less than 1.3m.
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