Did speculation contribute to the wall street crash or 1920?

Speculation contributed to the wall street crash. This is because people bought shares into companies. Speculation was when people would start to rumor and say that a company was going under. As no one would want to be with a company that would be making them lose money people wanted to get out quick. This would lead to people in great masses trying to sell there shares of the company. As people were so desperate not to lose money they would start lowering there prices just to get rid off it. This meant everyone had to lower their prices to. However, no one wants to buy into a broke company and the shares then became worth nothing. This would then lead to the company going out of business even if they were not in the first place. This happened to lots of companies all across America. So speculation definitely contributed to the Wall Street crash.