Where are they now? Did they already cover?
I doubt smart money was shorting at $12. Spend a little on Puts at $12 as a gamble, but shorting is too risky at $12. The shorts who got in at $15 and $16 are taking profits. It will unwind and fall by Friday.
Headed down now...
if they are smart they did.. you had to be insane to short at 12..