It's not like this is the first time a short squeeze has happened. Has the SEC stepped in for other squeezes? If they were gonna step in, it should have been when naked shorting was occurring, not now.
[1] https://www.sec.gov/Archives/edgar/data/1559109/000089109215...
[2] https://www.etfstrategy.com/active-alts-closes-contrarian-sh...