This is undoubtedly a sticky-worthy happening. Overview:
Louis Rossmann: Why MSM's slander of /r/wallstreetbets pisses me off regarding GME
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Can someone please post a TLDR summary?
TLDR reddit investors dumped money into a cheap $4 stock that was heavily shorted (hedge funds borrowed against it gambling it would keep going down). The redditors made it go up, causing hedge funds to lose money. Thus created a domino effect where banks forced more shorts to pay up their losses, driving up the price more, which in turn forces more banks to call in debts, and it snowballs with no end in sight. It was almost $400 the last I looked and going up and down constantly as people cash out rich, and banks force more buys. Blaming reddit is a scapegoat. They don't have the money, but their spark made a bunch of banks do this and the system doesn't want to admit their computers are easily exploited by a bunch of autists.
So I haven't studied this at all, just wondering though - people are saying there is no way individual investors have enough purchase power to move the share price this much, pointing to some whale(s) involved behind the scenes. Do you know if this might be correct? (Sounds reasonable to me given the massive wealth disparity in the current economy)
I've read that some institutional investors started buying the stock. No indication on trade size, though.