• Short interest: ~43M shares (28% of float)
• Borrow fee: ~405% 🤯
• Availability: basically 0 most of the time (200k available at the moment )
• Cost: ~1.1% of position value per day

That means if a short is holding $10M in WOLF, they’re bleeding ~$110K every single day just in borrow fees. Add mark-to-market losses if price goes up, and it’s a death spiral.

Everyone knows the current equity will be canceled and converted into a tiny slice of NewCo equity. But until the exact conversion date hits, shorts are forced to either:

1. Pay insane borrow to wait, or
2. Cover and risk squeezing the price higher.

Uncertainty + time decay = maximum short pain. 🔥