I would think that, but as someone else pointed out, when this stock was targeted they probably hadn't done good research -- saw the stock price zooming up (due partially to the pumper gang, which became the dumper gang), and thought it was easy meat. Which it was, when you have the resources behind you that the gang has.

I think some of the baby bears are probably still short, thinking that it's going to zero. I agree that there has been a lot of short covering.