Because there is more poor ppl than rich ppl, and poor ppl can buy stonks at 1$, but they can’t buy stonks at 1000$.
So if some idiot says that stonk X is hot at 1$, the amount of money that is available to buy that stonk and pump it’s price up is much higher than for a stonk that’s at 1000$ and that only 1% of the population can put money in.
Lots of places offer the ability to buy partial stocks. Also, BTC and company all allow partial coins. Lastly, idiot retail buyers who can only afford a few bucks of anything won’t move the market.
So if some idiot says that stonk X is hot at 1$, the amount of money that is available to buy that stonk and pump it’s price up is much higher than for a stonk that’s at 1000$ and that only 1% of the population can put money in.