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pijan8810
2021-02-01
Stop
Why regulators shouldn’t get trigger-happy in trying to rein in GameStop’s stock mania
pijan8810
2021-02-01
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Short interest — bets against the company — exceeds the total shares outstanding, and call and put option volume has been in the tens of millions. Those statistics are an order of magnitude greater than for similar stocks.</p>\n<p>Investors, including those on Reddit’s WallStreetBets forum and other social media, have been buying GameStopGME,+67.87%shares, causing a short squeeze for those betting against the company, in turn forcing the short sellers to cover their positions. As a result, that’s driving the shares higher. While the saga is still unfolding, we wouldn’t be surprised that when the music stops, GameStop’s share price would return to terrestrial levels.</p>\n<p>The dramatic turn of events has led many to speculate the underlying causes and proffer regulatory remedies. Some draw a parallel to pump-and-dump schemes that seek to manipulate share prices. However, pump-and-dump schemes are already illegal, which might shift attention toward other regulatory avenues.</p>\n<p>Three come to mind: payment for order flow, a transaction tax and enhanced financial literacy education.</p>\n<p>Payment for order flow</p>\n<p>Payment for order flow (here’s an SEC study) transfers “some of the trading profits from market making to the brokers that route customer orders to specialists for execution.”</p>\n<p>This practice has experienced renewed scrutiny as a central source of revenue for retail brokerage platforms such as Robinhood, Charles SchwabSCHW,-4.09%and E*Trade. The brokers’ business model offers zero-cost trades to attract business from individual and institutional clients in exchange for the order flow payments they receive from market makers such as Citadel.</p>\n<p>Detractors argue that zero-cost trades induce excessive trading. While that might be true, it’s naïve to believe that it remotely explains the price movement witnessed in GameStop. Moreover, the lower cost of trading in all stocks and better execution have democratized investors’ access to securities markets without adverse effects on securities market. In fact, greater investor participation and trading enhance price transparency and liquidity — both desirable tenets of securities markets. Making order flow payments verboten will deprive markets of these benefits.</p>\n<p>Transaction tax</p>\n<p>Clearly, trading volume in GameStop shares is many times its historical average. This anecdotal evidence of high trading volume and high volatility might revive the financial transaction tax proposal.</p>\n<p>A financial transaction tax is typically premised on notions that trading fuels volatility, and trading, especially high-frequency trading, does not serve a useful social purpose. An alternative explanation is that economic news and uncertainty contribute to trading and price volatility.</p>\n<p>As the COVID-19 pandemic hit the U.S. in March 2020, the adverse news and high degree of uncertainty about U.S. economic prospects manifested in a sharp fall in asset prices and the VIX rising almost instantaneously to a historic high. Simultaneously, trading volume doubled. From April 2020, asset prices rose and VIX dropped rapidly with federal stimulus, accommodative monetary policies and Treasury fiscal support to businesses.</p>\n<p>However, trading volume has remained elevated, which contradicts the notion that trading fuels market volatility. A financial transaction tax would discourage trading, for sure, but it is unlikely to attenuate volatility. More importantly, price discovery might be sacrificed as a result of less trading, which would adversely affect efficient capital allocation.</p>\n<p>Finally, financial transaction taxes are also unlikely to be effective in curbing episodes such as the sudden rise of GameStop.</p>\n<p>Financial literacy</p>\n<p>A baseline level of education is a prerequisite for an individual investor to trade in options. Enhanced financial literacy education might be a promising approach to discipline investor exuberance. Still, more information is needed to determine its efficacy. This may come in the form of research on the links between education and investor behavior.</p>\n<p>Rather than regulation directly designed to curb trading, experimentation in financial markets might hold greater promise in calibrating the form of effective financial literacy education.</p>\n<p>The limits of arbitrage capital</p>\n<p>The sudden, sharp rise in GameStop highlights the clout of individual investors acting in concert. Their collective buying power has propelled the stock to loftier levels, which virtually everyone believes to be unhinged from underlying economic fundamentals.</p>\n<p>Typically, active investors, including short sellers, correct the price by selling the stock. However, the GameStop episode has exposed the limits of arbitrage capital that might otherwise counter the tsunami of buying pressure as a result of coordinated buying by a huge number of investors. A few hundred million to a few billion dollars of capital from short sellers has been too little so far.</p>\n<p>Moreover, they could not marshal additional capital to meet margin calls as the stock price rose. Worse yet, buying to close out their loss positions only resulted in additional buying pressure or the short-squeeze effect.</p>\n<p>The bottom line is, the efficient functioning of the stock market requires substantial arbitrage capital to correct mispricing that might result from coordinated buying motivated to exact a revenge of what individual investors perceive as a market rigged by short sellers. Unfortunately, in this environment of demonization of short sellers, it’s hard to imagine additional capital will flow to stem what seems like an irrational stock price rise in GameStop.</p>\n<p>Of course, only time will tell whether the price rise is rational or that it exposes the lack of adequate arbitrage capital. In the meantime, it behooves to resist being trigger-happy with regulation.</p>\n<p><i>SP Kothari is a professor at MIT Sloan School of Management and former chief economist at the Securities and Exchange Commission from 2019-2021. Eric So is a professor at MIT Sloan School of Management.</i></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why regulators shouldn’t get trigger-happy in trying to rein in GameStop’s stock mania</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy regulators shouldn’t get trigger-happy in trying to rein in GameStop’s stock mania\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-01 15:08 GMT+8 <a href=https://www.marketwatch.com/story/why-regulators-shouldnt-get-trigger-happy-in-trying-to-rein-in-gamestops-stock-mania-11611939882?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The meteoric rise in videogame-retailer GameStop’s stock price from a few dollars to more than $300 in a couple of weeks, swelling its market value to about $25 billion, has made the company and mania...</p>\n\n<a href=\"https://www.marketwatch.com/story/why-regulators-shouldnt-get-trigger-happy-in-trying-to-rein-in-gamestops-stock-mania-11611939882?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b1fdaab121d904fee30d8fe32e39819a","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/why-regulators-shouldnt-get-trigger-happy-in-trying-to-rein-in-gamestops-stock-mania-11611939882?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183625716","content_text":"The meteoric rise in videogame-retailer GameStop’s stock price from a few dollars to more than $300 in a couple of weeks, swelling its market value to about $25 billion, has made the company and mania surrounding it a household name.\nTrading in shares of the beleaguered retailer has gone through the roof. Short interest — bets against the company — exceeds the total shares outstanding, and call and put option volume has been in the tens of millions. Those statistics are an order of magnitude greater than for similar stocks.\nInvestors, including those on Reddit’s WallStreetBets forum and other social media, have been buying GameStopGME,+67.87%shares, causing a short squeeze for those betting against the company, in turn forcing the short sellers to cover their positions. As a result, that’s driving the shares higher. While the saga is still unfolding, we wouldn’t be surprised that when the music stops, GameStop’s share price would return to terrestrial levels.\nThe dramatic turn of events has led many to speculate the underlying causes and proffer regulatory remedies. Some draw a parallel to pump-and-dump schemes that seek to manipulate share prices. However, pump-and-dump schemes are already illegal, which might shift attention toward other regulatory avenues.\nThree come to mind: payment for order flow, a transaction tax and enhanced financial literacy education.\nPayment for order flow\nPayment for order flow (here’s an SEC study) transfers “some of the trading profits from market making to the brokers that route customer orders to specialists for execution.”\nThis practice has experienced renewed scrutiny as a central source of revenue for retail brokerage platforms such as Robinhood, Charles SchwabSCHW,-4.09%and E*Trade. The brokers’ business model offers zero-cost trades to attract business from individual and institutional clients in exchange for the order flow payments they receive from market makers such as Citadel.\nDetractors argue that zero-cost trades induce excessive trading. While that might be true, it’s naïve to believe that it remotely explains the price movement witnessed in GameStop. Moreover, the lower cost of trading in all stocks and better execution have democratized investors’ access to securities markets without adverse effects on securities market. In fact, greater investor participation and trading enhance price transparency and liquidity — both desirable tenets of securities markets. Making order flow payments verboten will deprive markets of these benefits.\nTransaction tax\nClearly, trading volume in GameStop shares is many times its historical average. This anecdotal evidence of high trading volume and high volatility might revive the financial transaction tax proposal.\nA financial transaction tax is typically premised on notions that trading fuels volatility, and trading, especially high-frequency trading, does not serve a useful social purpose. An alternative explanation is that economic news and uncertainty contribute to trading and price volatility.\nAs the COVID-19 pandemic hit the U.S. in March 2020, the adverse news and high degree of uncertainty about U.S. economic prospects manifested in a sharp fall in asset prices and the VIX rising almost instantaneously to a historic high. Simultaneously, trading volume doubled. From April 2020, asset prices rose and VIX dropped rapidly with federal stimulus, accommodative monetary policies and Treasury fiscal support to businesses.\nHowever, trading volume has remained elevated, which contradicts the notion that trading fuels market volatility. A financial transaction tax would discourage trading, for sure, but it is unlikely to attenuate volatility. More importantly, price discovery might be sacrificed as a result of less trading, which would adversely affect efficient capital allocation.\nFinally, financial transaction taxes are also unlikely to be effective in curbing episodes such as the sudden rise of GameStop.\nFinancial literacy\nA baseline level of education is a prerequisite for an individual investor to trade in options. Enhanced financial literacy education might be a promising approach to discipline investor exuberance. Still, more information is needed to determine its efficacy. This may come in the form of research on the links between education and investor behavior.\nRather than regulation directly designed to curb trading, experimentation in financial markets might hold greater promise in calibrating the form of effective financial literacy education.\nThe limits of arbitrage capital\nThe sudden, sharp rise in GameStop highlights the clout of individual investors acting in concert. Their collective buying power has propelled the stock to loftier levels, which virtually everyone believes to be unhinged from underlying economic fundamentals.\nTypically, active investors, including short sellers, correct the price by selling the stock. However, the GameStop episode has exposed the limits of arbitrage capital that might otherwise counter the tsunami of buying pressure as a result of coordinated buying by a huge number of investors. A few hundred million to a few billion dollars of capital from short sellers has been too little so far.\nMoreover, they could not marshal additional capital to meet margin calls as the stock price rose. Worse yet, buying to close out their loss positions only resulted in additional buying pressure or the short-squeeze effect.\nThe bottom line is, the efficient functioning of the stock market requires substantial arbitrage capital to correct mispricing that might result from coordinated buying motivated to exact a revenge of what individual investors perceive as a market rigged by short sellers. Unfortunately, in this environment of demonization of short sellers, it’s hard to imagine additional capital will flow to stem what seems like an irrational stock price rise in GameStop.\nOf course, only time will tell whether the price rise is rational or that it exposes the lack of adequate arbitrage capital. In the meantime, it behooves to resist being trigger-happy with regulation.\nSP Kothari is a professor at MIT Sloan School of Management and former chief economist at the Securities and Exchange Commission from 2019-2021. Eric So is a professor at MIT Sloan School of Management.","news_type":1},"isVote":1,"tweetType":1,"viewCount":162,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":315917392,"gmtCreate":1612193348916,"gmtModify":1704868124296,"author":{"id":"3575109670337864","authorId":"3575109670337864","name":"pijan8810","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575109670337864","authorIdStr":"3575109670337864"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/315917392","repostId":"1171480323","repostType":4,"isVote":1,"tweetType":1,"viewCount":394,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"idStr":"3527667803686145","authorIdStr":"3527667803686145"},"content":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","text":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","html":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":315917392,"gmtCreate":1612193348916,"gmtModify":1704868124296,"author":{"id":"3575109670337864","authorId":"3575109670337864","name":"pijan8810","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575109670337864","authorIdStr":"3575109670337864"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/315917392","repostId":"1171480323","repostType":4,"repost":{"id":"1171480323","pubTimestamp":1612170287,"share":"https://ttm.financial/m/news/1171480323?lang=&edition=fundamental","pubTime":"2021-02-01 17:04","market":"fut","language":"en","title":"Silver swept up by GameStop retail frenzy, prices soar","url":"https://stock-news.laohu8.com/highlight/detail?id=1171480323","media":"reuters","summary":"SINGAPORE (Reuters) - Silver prices surged to a five-month high on Monday, silver-mining stocks leap","content":"<p>SINGAPORE (Reuters) - Silver prices surged to a five-month high on Monday, silver-mining stocks leapt and coin-selling websites were swamped as small-time investors piled in to the metal, the latest target of a retail-trading frenzy that has set financial markets on edge.</p>\n<p>Organised in online forums and traded with fee-free brokers, such as Robinhood, the phenomenon has driven a 1500% rally in the shares of videogame retailer GameStop as the crowd targets assets big fund managers had bet against.</p>\n<p>The move into silver, following thousands of Reddit posts and hundreds of YouTube videos suggesting that a rise in the physical price could hurt large investors with bets on it falling, is a foray in to a much bigger and more liquid market.</p>\n<p>Spot silver leapt as much as 7.4% in Asia to $28.99 an ounce, taking gains to about 15% since last Wednesday and the price to its highest since mid August.</p>\n<p>Silver mining stocks soared in Australia and China and Money Metals, an online exchange for precious coins and bullion, posted an “EXTREME DEMAND ALERT” banner across its homepage, and announced it restricted orders to between $1,000 and $10,000.</p>\n<p>“The Reddit crowd has turned its sights on a bigger whale in terms of trying to catalyse something of a short squeeze in the silver market,” said Kyle Rodda, an analyst at brokerage IG Markets in Melbourne.</p>\n<p>“This is their big, bold Moby Dick moment,” he said.</p>\n<p>Volumes in small miners’ stock in Australia were unprecedented and jumps in some exploration firms, which do not actually produce silver, topped 90%. Bullion dealers had brisk trade.</p>\n<p>“Yeah, we’re seeing buying and it’s been sparked by this subreddit,” said Nicholas Frappell, global general manager at ABC Refinery in Sydney, adding such customers liked to buy kilogram bars or smaller because of the convenience.</p>\n<p>The Perth Mint said it noticed elevated demand for silver in the United States via online dealers.</p>\n<p>(GRAPHIC: Silver prices versus ETF silver holdings - )</p>\n<p><img src=\"https://static.tigerbbs.com/82756a61ebbef68e29ea2cbf25e40219\" tg-width=\"1530\" tg-height=\"867\" referrerpolicy=\"no-referrer\"></p>","source":"ltzww","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Silver swept up by GameStop retail frenzy, prices soar</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilver swept up by GameStop retail frenzy, prices soar\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-01 17:04 GMT+8 <a href=https://www.reuters.com/article/us-retail-trading-silver/silver-swept-up-by-gamestop-retail-frenzy-prices-soar-idUSKBN2A00WG?il=0><strong>reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE (Reuters) - Silver prices surged to a five-month high on Monday, silver-mining stocks leapt and coin-selling websites were swamped as small-time investors piled in to the metal, the latest ...</p>\n\n<a href=\"https://www.reuters.com/article/us-retail-trading-silver/silver-swept-up-by-gamestop-retail-frenzy-prices-soar-idUSKBN2A00WG?il=0\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e59b88731b8c06f5f2f331abdc0376b0","relate_stocks":{},"source_url":"https://www.reuters.com/article/us-retail-trading-silver/silver-swept-up-by-gamestop-retail-frenzy-prices-soar-idUSKBN2A00WG?il=0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171480323","content_text":"SINGAPORE (Reuters) - Silver prices surged to a five-month high on Monday, silver-mining stocks leapt and coin-selling websites were swamped as small-time investors piled in to the metal, the latest target of a retail-trading frenzy that has set financial markets on edge.\nOrganised in online forums and traded with fee-free brokers, such as Robinhood, the phenomenon has driven a 1500% rally in the shares of videogame retailer GameStop as the crowd targets assets big fund managers had bet against.\nThe move into silver, following thousands of Reddit posts and hundreds of YouTube videos suggesting that a rise in the physical price could hurt large investors with bets on it falling, is a foray in to a much bigger and more liquid market.\nSpot silver leapt as much as 7.4% in Asia to $28.99 an ounce, taking gains to about 15% since last Wednesday and the price to its highest since mid August.\nSilver mining stocks soared in Australia and China and Money Metals, an online exchange for precious coins and bullion, posted an “EXTREME DEMAND ALERT” banner across its homepage, and announced it restricted orders to between $1,000 and $10,000.\n“The Reddit crowd has turned its sights on a bigger whale in terms of trying to catalyse something of a short squeeze in the silver market,” said Kyle Rodda, an analyst at brokerage IG Markets in Melbourne.\n“This is their big, bold Moby Dick moment,” he said.\nVolumes in small miners’ stock in Australia were unprecedented and jumps in some exploration firms, which do not actually produce silver, topped 90%. Bullion dealers had brisk trade.\n“Yeah, we’re seeing buying and it’s been sparked by this subreddit,” said Nicholas Frappell, global general manager at ABC Refinery in Sydney, adding such customers liked to buy kilogram bars or smaller because of the convenience.\nThe Perth Mint said it noticed elevated demand for silver in the United States via online dealers.\n(GRAPHIC: Silver prices versus ETF silver holdings - )","news_type":1},"isVote":1,"tweetType":1,"viewCount":394,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"idStr":"3527667803686145","authorIdStr":"3527667803686145"},"content":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","text":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","html":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":315988784,"gmtCreate":1612193543748,"gmtModify":1704868130444,"author":{"id":"3575109670337864","authorId":"3575109670337864","name":"pijan8810","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575109670337864","authorIdStr":"3575109670337864"},"themes":[],"htmlText":"Stop","listText":"Stop","text":"Stop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/315988784","repostId":"1183625716","repostType":4,"isVote":1,"tweetType":1,"viewCount":162,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
