I'm curious: where did you get your figure for " 65+% of the volume yesterday was you guessed it, shares sold short."? If it were, how would they not would have swamped, the buyers?
FWIW, OBV shows +3M shares traded at the ask vs at the bid. A heavy imbalance in favor of buyers is needed to push the pps up at all, let alone up 40%. We've seen imbalances of +1-2M shares before and still only gained far less. Per you, 65% of volume was shorting and we went up 40%? You were kidding, right? Sounds like crazy talk to me.
If shorts aren't covering yet, so much the better, more fuel for the fire, if they have deep enough pockets from prior gains shorting to short like crazy on a day like today. I find it hard to believe they would not wait and watch it rise more while waiting for the longs to be exhausted before shorting again. That's if the longs actually do get easily exhausted after MHRA approval is announced. Though in the past we've seen the shorts really lean in with 10s of millions of shares when they feel highly confident. Will they still do after NW finally gets approved? I don't think the obsessive MB short voices here represent industrial strength shorts, but I reckon we'll have the chance to find out soon enough.