Facts are:

GameStop sits at 226.4% of float short and 88.6% of outstanding shares short, with 2.8 days to cover short. The 2.8 days to cover short is probably artificially lowered due to excessive trading interest in GameStop.

There are 5 other companies >50% of shares outstanding short AND >70% of the float short.

Ligand (62.7% of shares outstanding short, 107.6% of the float short).

Macerich (52.6% of shares outstanding short, 85.8% of the float short).

Bed Bath & Beyond (61.8% of shares outstanding short, 82.4% of the float short).

Tangier (50.6% of shares outstanding short, 75.3% of the float short).

FuboTV (58.0% of shares outstanding short, 72.7% of the float short).

While I am expecting the trend to continue, I think careful attention needs to be paid to:

(1) Large shareholders selling out, which increases the level of shares floating in the market (and reduces pressure on shorts).

https://www.barrons.com/articles/amc-entertainment-investor-silver-lake-sells-stake-51611962182

https://seekingalpha.com/news/3656314-macerichs-biggest-shareholder-exits-after-reddit-rally

(2) Corporations raising fresh capital, which also increases the level of shares floating in the market (and reduces pressure on shorts).

https://www.cnbc.com/2021/01/29/amc-entertainment-explores-raising-new-capital-as-its-stock-surges-sources-say.html

Slides available at https://www.linkedin.com/posts/markpui_short-interest-vs-price-performance-activity-6761490897814343680-Bw82