I don’t personally care what group was in or not in it. What we do know is that there were momentum traders in it, which is what caused the massive gap up in pre-market on its 5-minute chart and that trading day it had unusual trading volume. Thus, momentum traders.
Those same traders (whoever you’d like to name them) bailed on it trading session and the next, when they saw it wasn’t working.
Now, those momentum traders are out. It’s all trackable by the intraday activity on the chart.