Shorts reacted to the shareholder letter and then the CUSIP gambit was probably telegraphed and added some degree of urgency to cover naked shorts. Probably when the naked covering was complete continued re-shorting occurred to pile on to Pinetree's then recognized liquidation.
What we are not certain of is what happened to the TSX shorts. Have they been covered or will this be reflected soon in the bi weekly NASDAQ short interest.
A definitive connecting of the dots by Sphere with Microsoft should resolve much uncertainty and render the short conundrum inconsequential ie old news.
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