The drop in price was caused by the panic of retail shareholders induced by the unpriced offering. It was further fueled by the prospect of a Wednesday night NR announcing the price. 

Long time, straight shooter posters like Royalton described what happened with the ensuing margin calls. 

I don't feel a short squeeze is likely, as I'm not so sure we have accurate figures on the actual short interest. 

Dash's point of why the delay in issuing the kind of NR we got yesterday is a very legitimate inquiry. If I had to put my money on a longshot, I'm guessing there may be something else in the works, and I'm hoping it's a China +1 deal with a new entity or the same unnamed entity that has been theoretically mentioned as having gone south several weeks ago. 

Ongoing discussions of that type may have made yesterday's NR more difficult to release. Just a guess.