I personally don't think it ever sees $1 again but if it does I will be happy for you. I hope the merger goes through soon just so all the hyping, pumping, and bashing can end and reality can set in, whatever that reality may be.
If there is a naked short squeeze the stock could move higher quickly. If I owned any of the stock and that happened I would sell in pieces as it moved up rather than try and pick the exact top. If there is no naked short squeeze, it might move down quickly or just drop slowly and painfully for any longs that did not get out in time.
Only time will tell. Perhaps the executives and legal team will finally get their act together and finalize this merger once and for all within the next few weeks. I still have doubts that will happen based on history but perhaps this time they will get it right.