When asked during his AMA today on reddit, he was asked why is GME plummeting? He answered it beautifully. This is also a discussion topic for everyone else to voice their opinions and reasoning.
Well the same stock has today risen to over $200. The thing about stocks is that they always fall and rise and people aren't ready to watch their portfolio fall.
It's the major reason why the money markets are for only the strong hearted. Anyone who cannot afford to take risks especially high risks (because stocks are generally volatile) cannot succeed in the stock market.