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FIT short squeeze unlikely ?3

The rise of FIT in response to a report that Fitbit is exploring selling itself is classic short covering.  27.4M shares traded Friday, which was about about 5x the 10-day average, and that trend looks like it's seeing some follow through today.  What would often happen in situations like this is that semi-experienced traders would get drawn into shorting the stock since they (correctly) understand that news like this degrades the chances of any deal being made.  Then there would be a follow-up report that would kick of a true short squeeze.  The recent introduction of the Versa 2 made this seem even more likely.

It could still happen, but my guess based on this morning's rebate rate and trading is that the market has already weeded out foolhardy shortsellers and there is nobody left to fill this bear trap.  Consequently, if there are any readers out there who failed to react to my earlier notes about rising competition and desperate attempts to jump start service revenue, consider this a belated though inferior chance to amend the error, and expect me to resume radio silence on FIT.