Melvin and 2 other institutional investors held almost all of the shorted contracts. They were extremely over-promised and got caught out doing it. That's why t

Melvin and 2 other institutional investors held almost all of the shorted contracts. They were extremely over-promised and got caught out doing it. That's why the squeeze worked in the first place. They could have exited early, taken the initial loss and walked away. The WSB crowd would have picked up a small profit and it would have been done. Instead, the smaller institutional shorts tried to hold and got crushed.