I wouldn't expect to see a short squeeze unless it is driven by licensing news or earnings growth. However, the buyback may dampen shorting activity going forwards, IMHO, because a 1M share authorized buyback represents some buffer capacity for downwards price swings, and its execution would reduce the float. Thus, shorting in the mid-high 30's should now be even less attractive. I'm not sure what the true motivation for the buyback was, but it could be a good way, ultimately, for SRDX to profit from its undervalued stock.
From the PR: "...allows us to return capital to shareholders even as we continue to invest for future growth. Furthermore, we believe that our growth prospects are substantial and our stock is undervalued. As a result, the repurchase of common stock represents a highly attractive investment opportunity."
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