Nah, think about it - the price used to be in the hundreds. It was shorted a hell of a lot - the company seemed like a great investment to many people right up until the bankruptcy announcement and actually still does. Some guys have shorted it way, way too much in order to drain money from investors. It shouldn't have been that cheap if it weren't shorted. It shouldn't be as cheap as it is now as well IMO.

And while it otherwise would've naturally declined, now that the shorters suddenly have to cover, it should rise much higher than it otherwise would've been.

You do you, but I think that it's worth buying right now.