Ayala Pharmaceuticals Inc (ADXS)

[Simple Steve]

Huh? They put in sell orders to cover their short (buy) orders? That would at best be a wash and would not drive down the price. Short covering is essentially the same thing as buying. Hence the term short squeeze. When they short it applies buying pressure and hence the price goes up. Other shorts panic and close out their positions at a higher price. IMO, today's big drop was because of investors panic selling. There likely were people who closed out their short position on the dip, but the shorting itself wasn't the cause of the fall.