Personally, I think 80% of the reason it skyrocketed was for the short squeeze, ...

servercobra on March 9, 2021 | parent | context | favorite | on: Hertz, the original meme stock, is turning out to ...

Personally, I think 80% of the reason it skyrocketed was for the short squeeze, 20% because of the new team and it being undervalued if you believed in that new team. $30-$40 seems reasonable if you believe the team is gonna turn the company around IMO, but people were putting thousands and tens of thousands into shares because they're hoping the short squeeze puts it to $1k+ (at least that's the meme/not a meme if you believe WSB).

codechicago277 on March 9, 2021 [–]

It became a Ponzi effect where buying made the price go up and encouraged more buying. Short interest being so high helped a lot.