Those short positions look tiny to me. I have a different...

Those short positions look tiny to me. I have a different hypothesis. A thinly traded stock with promise yet considerable uncertainty is ideal for bots. Push down the intraday price with vigorous selling, trigger the stoplosses of nervous players which drives down the price more, buy up at the lower price and go home content. Could even let the SP recover at close.

Next day, buy orders are placed up and down the price board by players who can see the value here. Sell yesterday's purchases into the thin market again. This need not involve a lot of cash or stock as the bot simply sells a handful of shares to set the market at the buy price, allows those who believe in the market to transact, waits for the next buy/sell gap and sells a handful again to establish a new lower market price.

To make 5 to 7% on an intraday trade is money for jam. I originally saw this as concerted selling by eg a disgruntled former manager with tons of stock, now I am convinced it is a bot, who has made a motza.

I think my hypothesis fits the observed behavior.