All I do know are these facts:
Shorts have shorted every share they can and the stock is still way ahead of fundamentals. If it follows TSLA or Netflix, it will stay ahead and shorts will always be a fact of life. No effect as long as more people buy the dream. If people decide to take profits and move on or just get scared of as new buyers, it will go down. No guess which will happen.
Hedge funds have shorted against warrants as much as possible. If they can short more they will buy more warrants and the prices will meet in the middle.
As long as no one knows what will happen, the disparity remains. As July 6th approaches, it will get smaller. It is a time-volatility gap, just like options have time-value.
The process to exercise warrants is not instant, so even on the 7th there will not suddenly be 23M new shares. In fact, riding the warrants as long as the stock is going up makes more sense than converting. People will just sell the warrants at stock-11.50-small amount. They will trade like 4 year, in the money options.
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