I think my question has been answered. This is not a "float" answer. All of the "float" notions are meaningless in the big picture.

However, because of the limited issuance, stocks with a smaller float will tend to be more volatile than those with a larger float, at least in the short term. Investors may demand more shares than are readily available, pushing up the price.

The same dynamic works in reverse, too. So, if demand for the stock collapses, it could drive the stock price much lower. This is what I see happening. I hope to be wrong!