John Keynes once said that the market can stay irrational longer than most retail investors can stay solvent.
Well, we'll add hedge funds and institutional funds to that lists.
In case you have not heard of the hottest town talks surrounding the market in the recent days, shares of several counters (I purposely mentioned counters rather than companies because it doesn't matter anymore, they are treated as a pawn right now) such as Gamestop, AMC, BB, Nokia, KOSS have rocketed to escalating levels due to strong ongoing retail demand pushing up the stock.
Yes, you heard it right.
It's not big institutional controlling it (though I would argue there might be small hedge funds perhaps who are participating in the party), but rather retailers who lurked around forums such as Reddits, and StockTwits nests and consolidate their purchasing power by pushing up the price.
Now, let's just take Gamestop for instance....