Trump vs. the Invisible Hand?

Trump signed an executive order making price gouging and hoarding of medical supplies during the coronavirus pandemic a federal crime (The Hill, March 2020). I have some questions.

1. Why would people hoard? One answer is that they are speculating that the supplies will be more valuable in the future than they are now. If they will be more valuable in the future and people sell them now, would the lack of them in the future be worse than the benefit we receive now?
2. What signals and incentives does an increase in price of medical supplies create during a crisis? Are the predicted responses socially beneficial or socially harmful?
3. How do regulations and third-party payers affect the incentives facing firms that produce and distribute medical supplies? Do the laws of supply and demand apply?