Do you know about the short squeeze for Porsche and Volkswagen?

After the stock price peaked, Porsche released around 5% of its Volkswagen holdings at stratospheric prices and allowed short sellers to close their positions. After the 28th of October, the stock plummeted by more than 58% in the next four days. A month later, the stock was down 70% from its height. 

Nevertheless, short sellers suffered heavy losses as they were caught between the rising prices and the limited supply of shares in the market. According to some estimates, hedge funds lost around $30 billion on their Volkswagen short positions.