A lot of fat dinosaurs like hedge funds got burned by shorting these stocks, just like they've been burned to the tune of tens of billions on Tesla stock. The dinosaurs suffered from a failure of imagination about social media group actions and cult stocks like Tesla. If these "little guys" had chosen their brokers better, and not by what's considered cool and chic at the moment, they could have continued trading. But using Fidelity or Schwab is only for old people.
What I'm really fascinated by are the congresspeople like Warren, Ocasio-Cortez, and Cruz who apparently have no understanding at all about how the equity markets work, yet start shooting their ignorant mouths off to get attention. And the attorneys starting very profitable (for themselves) class action suits that will almost certainly fail. Well, if the ignoramuses are investigating stock brokers they'll have less time to make other potentially expensive mischief.
