The market has priced in a lot of the upside at a $350M valuation. My fear is that HJJ issues a ruling that disappoints the bullish theses and the air gets sucked out of the stock. The best case bullish scenario that I see posted rarely ever play out, hence why I say that no short squeeze comes into play. I could see a 20-30% move on very favorable news, which some might consider a squeeze. I just don't see a move to $6-$8 that some are expecting. Why? If the bullish thesis plays out Google will have a 30 day window to appeal which starts the waiting / uncertainty game all over again.
Read the sentiment on most of the boards, most are viewing this as a binary situation and the endgame for their investment. Many are underwater, purchasing over $4 and will not hesitate to hit the sell button to get out even.
This is not to be misconstrued as bashing, merely an outside opinion from someone who could potential initiate a position in the future. You can click on my post history and find the same related themes. My view hasn't changed, only time has which continually backs my thesis.