Because there is more poor ppl than rich ppl, and poor ppl can buy stonks at 1$, but they can’t buy stonks at 1000$.

So if some idiot says that stonk X is hot at 1$, the amount of money that is available to buy that stonk and pump it’s price up is much higher than for a stonk that’s at 1000$ and that only 1% of the population can put money in.