I've seen a fair number of articles recently (example) describe the GameStop short squeeze as a victory for the little guy over Wall Street. They claim that it was a bunch of small individual investors on Reddit's wallstreetbets forum who kept buying GameStop stock, which triggered a short squeeze, which resulted in heavy losses for some hedge funds who were shorting the stock.
Many of the wallstreetbets traders use the Robinhood brokerage, and one article says that Robinhood users have an average account size of $1K to $5K, which wouldn't be enough to generate substantial moves in the stock market.
Perhaps the small investors could have driven GameStop stock from single digits to double digits, but did they really drive it to almost $500 per share so that the company was worth $34 billion? Is there any evidence that the short squeeze may have also been driven by buying from larger institutional investors who weren't shorting GameStop?