[washedup]

That's because it's a new phenomenon. We'll get used to it.

[technofiend]

If it's sincerely a new phenomenon perhaps you're right, but cynically this looks a lot like pump and dump and frankly that's been around forever.

[papreclip]

What's new here is that the sales pitch about shorts needing to be covered has more truth to it (I think, not an expert) than the usual vague promises about a huge turnaround being right around the corner. Usually the argument that other buyers will follow you is based purely on their supposed FOMO

[SpicyLemonZest]

Impossible pump and dump bubbles are a very old and well-trafficked phenomenon. This particular case is a bit interesting, because it appears that the pumping may be a fully distributed phenomenon - but even then, it shouldn't surprise anyone if news eventually breaks that there was some organized group behind it.

[washedup]

Exactly! It's coordination on a scale never seen. But yes, traditional P+D been around forever.

[BirdieNZ]

It's not pump and dump, though, it's a short squeeze. It's happened before, many times, with the most famous prior case being VW (https://en.wikipedia.org/wiki/Short_squeeze#Examples_of_shor...)