That big dip today puts it on the short sale restriction list so tomorrow will be interesting.
AMC also had a similar big dip at about the same time as GME.
High? It was down from 42.0% (2 weeks ago) to 30.2%. The week before unofficial estimates put the short interest at over 100%.
In "GME round 1", S3 was reaching out to CNBC to correct them, saying most of the shorts are NOT covering. [1]
The 100%+ was based on low float numbers or algorithms developed by companies like S3. Morningstar, as an example, currently reports the float at 27.29M. So their SI is 52% right now.
Nobody really knows what it is at any given time. We have 2 week gaps in data.
So yes, round 2, there appears to be a big drop in shorts, but who knows. There's a battle going on. After round 1, nobody would want a high short volume come reporting time.
So what's the actual short volume. And what are the positions on those? Nobody knows.
S3, from their algorithm estimates 20.52% right now. [2]