Only 575k short shares on Jan.15, not much there, but yes, some could/should be covering.
Preferably these trades are new buyers, but the volume really doesn't support that thought to any great degree, other than for some lowly retail buys.
Still no volume in the US....this is where the majority of the money will come from, eventually.
And yes, I know that American trades can be routed through Canada, but just 265k traded on all N.American exchanges so far that I can see is rather insignificant in the grand scheme.
Tick tock..