By watching level 2, I was pretty sure it would jump up, but this is even more than I was expecting. As I said yesterday, I do not think there will be enought sellers for the shorters to get out in a timely manner. The SEC should be paying attention and (hopefully) Do Their Job! IF they are forced into covering, your 25%-%30% may be a conservative estimate.
As of now 1035 ET, they are trying to pick up shares @ $4.60, there is no resistance on the up side. The Major selling brokers have all moved over onto the buy side @ $4.60, they are accumulating peanuts here.
it looks like it could explode to the upside with any decent buying.