Cytodyn Inc (CYDY)

[ohm20]

why does there have to be a 7m buyback by today?

There doesn't. Next contract expiration should be June 19th unless it's an oddball private contract..

It could be a short position rollover or new short positions. Let's say a large short position or group of them shorted at $2.50, then the stock went up. They're stuck upside down on that trade. One way to try and get out of it is to buy new short positions at the higher price, dump them to drive the price down below $2.50 and make a profit on the old position and on the new position. You'd need a large block of shorts and a stock you can knock out the support from. It carries risk and must be done before any rush of buyers come in.