[mttddd]

I guess it is not the efficient market in the sense of valued according to the underlying financials. But to me at least it is "efficient" in the sense that the price is now basically tied to supply and demand. You have a stock that has >100% of outstanding shares short and a ton of people buying and holding the stock intentionally to prevent those users from covering the shorts. If nobody wants to sell you a share at 100$ you have to offer more and the more you offer the more in the hole other shorts become. This is the market punishing people who thought they were getting easy money by shorting the hell out of a dying company.