In an IPO, shares are limited, and shorting cannot be done because there are no shares available to borrow. It is one side of a market. When demand exceeds supply, and there are insufficient shares available, it becomes a bidding war. When the stonk sheep see the move, they jump in with no clue why it is moving, what its worth, and they don't care...
It is a game of hot potato, and those holding the shares when the music stops will have very burnt hands as it loses 90%+ of that price!
The demand was real initially... then it became a trading game to see who is the bigger fool.
DBMM has no real demand, because it is a failing piece of crap!
There is no short position in DBMM, so if it ever gets a little momo on news, it'll be very temporary and just be a greater fool game until it does a belly-flop! Then it will be a race for the exits.
Everyone always thinks they can out-trade others... most get taken to the cleaners!
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