"""The simple answer is there is a massive undeclared short as you pointed out."""
By "undeclared", you mean illegal.
That would mean:
1) The massive "undeclared short" chooses to break the law, imperiling their firm, livelihood, and freedom, all for a microcap stock that can only be a small short position for a fund of any size.
2) Their prime broker and the clearing brokers, which are all major firms, choose to be complicit and not close out positions, as required by law. Such firms choose to risk civil, criminal, and regulatory sanctions, all for a microcap.
3) There is a huge group of "naked longs". People who bought shares but never had them delivered and don't get to vote their shares in the proxy.
4) This group of naked longs is utterly silent, takes no action, and foregoes the opportunity to lend out shares at high rates. They are just deer in the headlights.
5) You are somehow able to know the details of a firm's short position, which means either they broadcast it (unlikely), or someone breached a fiduciary duty in disclosing it to you.
Yup, all makes so much sense.
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