On paper, yes you are right. But in practice, most of the floating shares were not really floating (held by long term buyers who had no intention to sell). So the float actually available was only 1% of outstanding shares (after Porsche's buyout of 44% of outstanding), while short interest was 12.8% of outstanding.
AMC is about where VW squeeze happened but Porsches hostile buyout was the spark.
GME situation is so illegal the SEC isn't even pretending to function any longer.
On paper, yes you are right. But in practice, most of the floating shares were not really floating (held by long term buyers who had no intention to sell). So the float actually available was only 1% of outstanding shares (after Porsche's buyout of 44% of outstanding), while short interest was 12.8% of outstanding.
Source: https://moxreports.com/vw-infinity-squeeze/