Don't worry there's no short squeeze. PPS is going down. MM's thrive on that. A squeeze is when they have to off load borrowed shares. If the pps goes up and up they get squeezed and lose money. MM's make money when pps drops not rises.
If a stock starts to rise rapidly, the trend may continue to escalate because the short sellers will likely want out. For example, say a stock rises 15% in one day, those with short positions may be forced to liquidate and cover their position by purchasing the stock. If enough short sellers buy back the stock, the price is pushed even higher.