1-2 million short coverings between 930-10am, imagine 50 MILLION!
Looking at the chart, it appears the volume between 9:30 and 10 am had about 2 million shares volume. If we are to assume a conservative basis that all 2 million shares were coverings causing a 1.20$ spike, imagine 60 million nutjobs covering. It would be like Volkswagen years ago! 2x30=60. 30x1.20 spike = ....well, you get the point