there are only 15000 shares available to short, even with a decrease in short of 1% from 25,621,200 to 25,212,700. there could be a short squeeze, but it could be a head fake by MMs to get more shares because of the demand for puts. time will tell. its not time to react, its just time to wait and see for those that own right now.
Maybe he's covering naked shorts? I'd say don't allow borrowing. Also, lock up your shares already in a brokerage with a "good until cancelled" sale price something like $10. That way, they can't be borrowed by others shorting.