This is why technical analysis is signifant.
I was explaining this shit to my former coworker and he usually put technical as insignificant and mainly look at fundamental as a factor.

Herd mentality and algorithm is where technical gets significant.


Lastly.... this GME AMC DDS is nothing new. You guys do not remember 2003? SIRI and TASR? (Now AXON).
They had very high short interest and CEO of taser even sue a yahoo finance board member (ID ubswarbird) for herding people and shorting their stock with fake financial info.
After this news go on, many of long got into those 2 stocks and they were top 25 volume leader and a huge gain.