They ended up shorting it, while someone else entirely spread Fake News that Trump threatened to help Democrats in the Mid-Terms (if Republicans didn't overturn the election). He said no such thing but it made its way around Telegram, at least, as if he did.
This is totally normal market behavior and you shouldn't question it at all.
At least, I made even more on SOXL than that episode of completely unaccountable and legal market behavior cost me.