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Will a short squeeze happen?

With short sell positions of nearly 40% against a floating share count of about 0.4 million, there is an expected catalyst on 1/9. If holders do not sell, shorts will have no choice but to buy back even at high prices... Will it decline further with more short selling or turn into a squeeze play? Target is over $10.
Will a short squeeze happen?
Will a short squeeze happen?
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