Yes, I saw what I called the 'SLJB effect" last week. Stocks across the board sold off as jittery players exited positions on the slightest whisper of concern.
Perhaps this is an inevitable pendulum swing. I also think it's not a bad thing if new traders acquire a healthy dose of cynicism and caution regarding most of these plays. Just because the game is rigged and many stocks are a sham, doesn't mean you can't make money, providing you have your eyes wide open, and your finger on the "sell" button.
There are also a handful of decent stocks at this level, and they are worth seeking out. But first, traders need to adjust their BS detectors and stop making excuses for the bad ones, imho.