An interesting case of distributed "uncoordinated" Pump and Dump. It's like Donald Trump's Capitol Riot, all you needed was the conditions for incitement.
You could say Reddit's WallStreetBets incited a Pump and Dump scheme. It isn't the traditional way of going about it where I hold the stock and promote it. Instead it is going via bullshit information saying you are attacking "Wall Street" and "bankrupting" Hedge Funds. Now it is wait until "Short Interest" report day and all other kinds of bullshit misconceptions. "HOLDDDDDD THE LINE" and all other kinds of bullshit statements causing people blabber about holding the stock since $300 per share? What's the point of holding it? 😹, glad to have been hoodwinked! Wear the "DUNCE" label!
Just like any pump and dump, only a small amount of people are getting a killing and the rest are left taking losses. It's zero sum game or pyramid scheme depending on how you view the market. Lots of people get attracted to the stock based off of horseshit prospects of getting rich and are let down by the end result.
All I have to say is wow..., Hedge Funds are making a hell of a killing off of these idiots. They are begging you to keep pumping the price, so they can sell. Idiots are so worried about the shorts that they forget what's happening when you keep pumping the price.
The timing though.. between a chaotic administration shift is suspect. What's the SEC going to do? Ban people from gathering on forums? Force brokers to slap on labels that say "speculative stock, blah blah blah you may lose all of your money" when one has been detected?
Wait until the quarterly reports! I doubt you'll pay attention though!
Those Implied Volatiilty values at those times though! Sucks for whoever is left holding!
Familiarize yourself with what a PUMP and DUMP looks like.