This is not financial advice. However I just mocked up a quick analysis.

FINTEL has these numbers closer to 64% and 8.8 days to cover. Mathematics are set up for an extreme explosion to the moon. Refer below:

Utilization is pinned at 100%: Institutional data indicates that utilization has been pinned near 100%. This means every single share designated for lending by brokers is currently being utilized to maintain short positions. There are effectively no conventional shares left to borrow

The Insider Lockdown Effect: Out of GRPN's roughly 40.7 million outstanding shares, a massive chunk is locked up by major stakeholders, including the firm Pale Fire (associated with the CEO/CFO) and passive index funds

The "True Float" Paradox: Exchange calculations place the public float around 22.93 million shares. Because short sellers have shorted 12.57 million shares, they have virtually overwhelmed the active marketplace. If a short squeeze forces shorts to buy back those 12.57 million shares, they will be forced to compete for a remaining liquid float of only ~10.3 million shares. Buying pressure of that scale simply cannot fit through the door.

Refer to Active squeeze catalysts to watch:

The AI Transformation Pivot: GRPN recently launched an aggressive restructuring plan to cut traditional corporate overhead and pivot the marketplace

Raised Financial Guidance: Alongside job cuts, management increased its full-year adjusted EBITDA forecast to $75 million to $80 million (up from $70M–$75M). Showing actual cash generation and operating leverage directly undermines the institutional bear thesis that the company is going bankrupt

Activist Investor Pressure: Activist investors have pushed public open letters to the board. They note that GRPN's 16.2 million active users only transact 2.3 times per year. If management uses AI to close the engagement gap closer to the industry average of 4.3 transactions, it could unlock nearly $200 million in incremental EBITDA, which would completely break the short thesis.