the meaning of 'what's the story?'

[Sweetpumpkin]

Hello,

When your friend shows up being dressed to kill, you can ask 'What's the story?'.

What's the story? means, in this case, 'Do you have any special reason to wear in such a gorgeous way? What happend?' like that. Am I right? What's the general meaning of 'What's the story?' is?

Besides, can 'what's the story?' be a normal greetings like 'what's up?'

Thanks for your answers in advance,
sweetpumpkin

[Jamie (K)]

Everything you said is true.

[Sweetpumpkin]

Thank you for confirmation, Jamie.