Global stocks finished an ugly week with another volatile session on Friday as the buying frenzy over GameStop and some other equities resumed. Major US indices dropped about 2%. Analysts said there were factors besides the drama around GameStop influencing the pullback on Friday and earlier in the week.

With the craze building on GameStop, here are five key things you need to know about the incident that made Wall Street go wild.

1. Amateurs vs Pros

A group of amateur day traders was up against Wall Street professionals known as short-sellers. The amateurs, through a Reddit discussion, prompted a buying frenzy. After achieving the first of their two-point goal, they turned their focus on investors, forcing them to abandon their bearish bets against struggling companies – GameStop was among one of them.

The professionals, big-shot investors, are the Wall Street elite who shoulder the responsibility of helping the investors make money. And the posts on the WallStreetBets subreddit saw those short-sellers lose out on billions of dollars.

2. The beginning

The WallStreetBets community on Reddit has been active since 2012. They noticed that GameStop was heavily shorted by hedge funds. And Reddit investors began buying the shares that were believed to be undervalued. So, the number’s game began.

3. The hullabaloo 

After annoucing their three new directord, GameStop’s stock rose a little less than 13% that day. But it maintained a rising trajectory. The Reddit crowd drove huge jumps brands that were massively shorted and As of Friday, GameStop’s stock saw a mind-boggling 1,587% rise since January.

To bring things in perspective, one year ago, a single share cost about $4 and now it is about $150.

As Reddit users bought major shares, short-sellers were compelled to buy shares to cover their bids that they were losing. When this happened, the stock price skyrocketed. This is known as a short squeeze.

4. How Robinhood came into the picture

GameStop’s craze was short-lived as Robinhood played spoilsport. Citing extreme volatility, Robinhood, a free-trading application, suspended trading of the amateurs group.

 However, investors who do not work under the shadow of Robinhood were able to function properly.

This saw GameStop lose 44% on their value after nearly climbing 40%. The backlash was quick and big.

Congresswoman Alexandria Ocasio-Cortez called the decision “unacceptable.” After the application caved in, saying that it would resume limited buys on the stocks, GameStop’s fan-following was back.

5. Is the end nigh?

The Securities and Exchange Commission, the agency that regulates Wall Street, said that it will keep an eye on the trading platforms.

Whatever goes up, does come down. Even though there was jostling to buy the undervalued shares, there will come a time when the dust will settle and things will be back to normal. Now GameStop is rising and one day it will not.