Although not a believer in conspiracy theories, I don’t believe that was a glitch either. The limited liquidity in OTC stocks can cause wild swings; and the MMs and HFTs began to lose control.
How they do what they do is a bit of a black box mystery, but it seemed fairly obvious that someone “pulled” the “circuit breaker.” I also believe had they not, the stock price would have eventually settled back down again to where it sits now - but only after some investors bought at vastly higher prices. Some traders may have also had some big gains as well. But that’s how the game is played in the big city.
Naw - in my experience, and the experience of other experienced traders I passed this by, no net effect. But whoever has a right to use their imagination in whatever means they need to make the world work for them.