I think you are 100% right, The only plausible answer: there is massive naked short selling and no one cares a hoot .Why should they, naked short selling is a license to steal, especially at this stage of Ecu share price. VERY very lucrative.
The sad part is most shareholders dont understand Naked Short selling or dont want to acknowledge the truth., perhaps they find the truth to depressing or distastful.
The least they could do is to hound the regulators about this criminal activity.
Tooker