Are your saying many shorts have borrowed the shar

Are your saying many shorts have borrowed the shares in advance of positive announcement. Once it shoots up to say $20 they will sell the share and hope it goes back down to $15 to cover and pocket the $5 minus fees per share? Is that why we haven’t seen many cover yet? I always assumed very high majority of shorted shares sell immediately tanking price and than they wait for low of day or low within a couple days before covering and taking price back up. I doubt many are trying to buy at a steeper price.