Not that easy after a r/s because you lower the float. With the new SEC rules coming into play it will be even harder after a r/s. Plus the bond holders are the ones who shorted and that play is been made so.
Most shorts know what they are doing. It's much harder to make money shorting.
Bondholders are a pretty "sophisticated" sort of investor. The likelihood of these guys "shorting stock" is pretty low. You'll see them gradually unload shares over the long term, and ONLY if the company doesn't perform to expectation.
To do otherwise is like shooting yourself in the foot.