Gofor. This Def would mean your on to somethng. But I'm just the board Idiot. I'll defer to Viclo(fablessprofitmore)
Definition of 'Short Squeeze'
A situation in which a lack of supply and an excess demand for a traded stock forces the price upward. During a short squeeze, individuals holding short positions are typically forced to purchase shares in situations where the price increases rapidly, in order to exit their short position. Short squeezes occur more often in smaller-cap stocks with small floats.
Investopedia explains 'Short Squeeze'
If a stock starts to rise rapidly, the trend may continue to escalate because the short sellers will likely want out. For example, if 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.
Maybe I'm the Board idiot....for a long time. I'm happy that VICL has held above the $3.75 wall for a couple of weeks now. This stock has "churned" (as I think they call it) in a narrow trading range between $2 and $4.50 for years now. And I'm sure many traders have done well buying/selling VICL shares as its pipeline chugs along. All I'm saying is VICL has moved nicely since January on its way back up to a new 52 week high. Time will tell when that happens. In the meantime traders will play VICL and the market week in and week out. I'm sticking with most of my position but will harvest profits on the way up. There will be plenty of traders happy to grab some of my shares, which are a tiny fraction of Mr. Singer's.
Moving back up to and above 100+ day average volume (600K+ share daily ave). Fact: This stock is up 40+% YTD and is on its way back up to a new 52 week high.....without big news!!!! If VICL breaks 2nd level resistance today, shorts will cover big time IMO and breakout could pop 10% quickly.
Gofor, Shorts will NOT cover just because Vical shares move up.... On the contrary they will layer in more, and they will easily raise their position to 10% or more of outstanding( 9million shares).
professional shorts sell into strength, and buy weakness.,... That is how they have made money trading Vical for many years.
Unless there is extremely significant fundamental news, shorts will NOT change their opinion of Vical.
Shorts see Vical thru the same lens as they do for 95% of biotech development stage companies: They are cash consuming dilution machines, which destroy shareholders.
Shorts will NOT change their opinion, just because the share price increases!!!