Ok, I was thinking days to cover is a requirement, but it is just a calculation. Shows you how much I know about shorting stocks! Since shorts don't have to cover, the longer days to cover is a theoretical number that may or may not be positive for the stock. It always depends on how good or bad the news is vs the expectation. A lower prior daily volume avg (which is the case with higher number of days to cover) can have various causes unrelated to expectations.
The bottom line for me is that the high level of shorting indicates a great degree of skepticism in the market, and if the company proves the skeptics wrong the stock could go up quickly as shorts cover..basic stuff...
The idea you have that high shorting really is a positive sign that institutions want to load up is IMO pure nonsense. As is the idea that institutions aren't buying now because retail has a stranglehold on the stock. I believe in supply and demand - when people want to buy, they do. When they want to sell, they do. End of story.
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