Here's how you tell when ANY short position is being covered: the stock price goes up.
Furthermore, the cash dividend wasn't enough to force any shorts to cover and you know it.
But you think this latest shameful maneuver would force a cover? Nah. It's basically a reverse split, and reverse splits never force covers. But there's no short position anyway. The story is very simple: the company needed to issue more shares. It planned to do that under the cover of the cash divvy, but got caught out. Plans had to be changed, and this is the result.
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