Predicting Margin call, page-23

Not an easy thing to know what they think is fair value. I guess it would depend on what price the shorters sold their stock.
Most businesses aim at getting about a 20% return.
Probably half of the shorts were sold @ $4.50 - $5.00 range before September 2023 and few million recently. Most of the other half (300m shares) @ $4.50-$3.75.
If shorters sold between $5 and $3.75, my guess is that they would probably be buying back between $4 and $3 (not including holding costs)
So half of shorters that bought about $5 must be close to their target and could start covering today. The other half who sold at $3.75 could probably break even @ todays prices.
thing is GS has a $2.90 so they will probably hold on to their positions till we get to $3