The short version is that the short-sellers took on risk that diminished the value of a geek-favorite.

So the geeks do what geeks do, and rallied around a simple response that - at scale - had a devastating effect on the short-sellers.

The risk/reward ratio didn't pay off ... ONCE and the hedge funds got into a tizzy.

Same as the start of COVID, and businesses posting their highest earnings ever for 4 consecutive quarters suddenly claimed they couldn't keep their operations closed for a month, or they'd go out of business, and stuck out their hand to the government.

It's all bullshit. Everyone in the game knows it is stupid, and knows it is weak, and knows it will fail... but maybe THIS one last trade will be OK. Or THIS one. No,... this one. And they stack them up and are rewarded and...

... everyone knows they are standing on thin ice and the weather is warming. But they keep standing there.

And as soon as some guy runs an extension cord out to the edge of the pond and melts the ice, the people who fall in the water go complaining to mommy.

Fuck em.