For shorts to bank profits, they have to cover. If I was...

For shorts to bank profits, they have to cover. If I was shorting SYR, I would have covered near the $3.48 point. I would have entered a price alert with my broker. Shorters borrow SYR stock at a hopefully top dollar price like circa $4.80, and then sell to the market. They subsequently buy back (cover) SYR stock around say $3.48, and return it to the broker. This represents 27.5% profit. In reality it will be less because of time lag and slippage. I've never tried it, but shorting is not suitable for most traders. Look how fast and hard SYR has bounced back up from the last intraday low of $3.15 (March 5, 2018) to today's $3.85 close. That is a 22% increase. A massive short squeeze.

There is some evidence to suggest that certain short traders put in extensive research before they enter a short trade. Personally I don't see their logic from a charting perspective. There are much more bearish stocks to short such as FCL, MYR, RFG, and TLS.

I suggest that SYR is benefiting from very recent lithium-related mining sector improved sentiment. Many other lithium stocks rapidly increased around the same time as SYR.