No way to know, but that seems as good a guess as any....I think there may have been some players going short at the start Wednesday who were able to cover that same day....the PPS opened at $3.85 and dropped as low as $3.41 which is better than a 12.5 spread from the low to the high.
400K is still the highest short interest has been in a long time.....I'll still be checking the Buy-In report, I don't think there are too many shares available to be borrowed.