The remaing shorts are now sitting on their shorts and will need liquidity and volume to unwind. So they will be on the buy side if they want to get out.
however sell side volume all being equal should be lighter and this drive the price up. Any fundamental or technical positives will of course help.
its not a miracle cure all but it could actually be a positive being out of the 300 in the short term in terms of the history of being so heavily shorted.
The remaing shorts are now sitting on their shorts and will need...
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