I'd hold as your sentiment says. This stock is not for the faint of heart though but I think has the chance to be an arbitrage event. Give it a couple months.
My comment was about the number of shares short and the low volume. You saw the price spike (and stock being halted) earlier in the week when some shorts were covered. Its one thing covering 58M shares in high volume. If a buyout was announced you'd see shorts covering above the buyout price.