It would be interesting to hear the logic from someone still...

It would be interesting to hear the logic from someone still short on it.

Lets say the lowest might be 2.70 from $3 that's a 10% drop

I wonder if you had not covered or started to cover now how much that additional % is worth to you. Because the reality is the bottom might be 2.90 or 2.80 which is nothing % wise for the risk of an Announcement is closer with each passing day / week

Its the same in reverse when its had a huge run even if you think you might get another 10% out of a stock there is a time you start selling to lock in profit and keep some back to maybe get that high.

A new short position from where we are now would take an insanely bearish person to make it worth while you'd have to expect $2.00 (a 33% drop from here) it could happen but i don't think so.

Volume wise over the past few days hasn't been enough to indicate that any real covering would have happened in that 4 day lag so i think the 7% is wildly inaccurate or the shorters know something that they shouldn't.