I doubt that this is to do with the short squeeze. Definitely for the likes of Tassal/TGR, Inghams/ING, Invocare/IVC - but TWE isn't really short anymore, and isn't in the Top 100 ASX shorted stock lists. So a short squeeze is out of the question.
I suspect this is a reversal of sentiment around the Australia/China trade issue. The ABS released their December 2020 terms of trade data on Monday which showed beverage / wine exports not down as much as perhaps expected - meanwhile in early January, Goldman Sachs research said that "the full extent of the impact is only expected to be seen in December 20 data". So perhaps that's a good sign.
And second, reports coming out from The Australian and others that there may be trade discussions happening. If China just answers the phone to Australia / Birmingham, that'd be worth 10% I reckon
(20min delay)