I think Hertz illustrates your point better. They are a poorly managed company with mountains of debt. Their business model imploded short term with the pandemic, but they were on shaky long term footing without the pandemic. There is no hope of this company becoming successful in the near term. With all of this information publicly available, retail investors on /r/wsb decided it would be funny to pump the stock and try to flip it for short term gains, and a whole bunch of people who saw Hertz tending on the Robinhood app bought in. The demand was so big that Hertz, a bankrupt company that was about to be carved up and sold off to creditors, issued stock that sold like hotcakes. It's utterly bizarre.

https://www.bloomberg.com/opinion/articles/2020-06-12/if-you...