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That's a good question. My statement was opinion and speculation, but it would be interesting to see this backed up by data, maybe someone here can find data on percentage of a stock like TSLA for example is held by retail investors?

You can see the % of shares held by institutions

https://finance.yahoo.com/quote/TSLA/key-statistics?p=TSLA

Compare Tesla at 57.93% to Ford at 55.06%

I don't have the link but I think people linked Hertz' valuation pop after it's bankruptcy almost exclusively on Robinhood type traders.