If warrants are actually in for a "squeeze", why is the volume almost non-existent?

One would think that if they were actually important, that the daily volume would be more than like $1.6m in total dollar value traded? Sure, most people can't even trade them, and "nobody's selling", but I still can't shake the feeling that if hedgies were scrambling for them, that there would actually be serious money involved... Maybe if Ryan Cohen actually told us about their future soon things could start moving.