This has nothing to do with the longs waiting for EUAs and revenue to see its affect on the share price. But, it is possible the shorts are cornered in a potential big squeeze position if more good news comes out, say, in the conference call tomorrow.
Why do I say that? Because today the stock closed at $3.94 on Fidelity after closing at $3.98 yesterday, $3.19 last Thursday and $2.70 last Wednesday. Shorts who did not cover since last Wednesday are looking at over $1.24 increase in price. That's a 62% increase, during the last 4 trading days. Naked shorts will have to cover. And, Fintel shows shares available to borrow at one major prime broker is 0 and it has been 0 or close to 0 for at least a few days (It has been as high as 2 or 3 million at times and Short Interest reported as of March 15 was 32 million shares.)
If the 0 shares available to borrow shown on Fintel is representative of prime brokers in general, it means that the shorts have nothing to borrow and sell to drive down the price to counter positive news as the shorts have religiously done in the past. They are out of ammunition at an inopportune time. Webcasts, like the one tomorrow, tend to be filled with positive news. If the positive news is sufficient to hold anywhere near the current price which is 62% above last Wednesday's close or the news continues to drive the price up, it could be trigger a massive short squeeze. It could be a bloodbath for the shorts.
Not saying this this is a certainty, but the market data cited above appears to suggest that this is a real possibility.
Again, for longs, it doesn't really matter. We are holding for EUA's and revenue. Cytodyn is moving inexorably toward those goals. If I have to wait 6 months or a year or more for that to happen, I am prepared to do it. But the shorts may not have anywhere near that much time. Their leash may be a matter of a few days:)