It’s fake news... no one on WS

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BillyNg
2021-02-02

It’s fake news... no one on WSB is pumping silver...

The frenzy of retail trade turned to silver...can it last?

KEY POINTSThe sharp move higher builds off gains for silver and silver-related equities late last we

The frenzy of retail trade turned to silver...can it last?

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It comes amid the biggest move for silverfuturessince at least 2013.The sharp move higher builds off gains for silver and silver-related equities late last week. Silver mining stocksCoeur MiningandPan American Silverrose 16.9% and 14.7%, respectively, on Thursday and Friday. The iShares Silver Trust jumped 6.7% during those two sessions.The spike in demand for silver appears to be related to retail traders in the Reddit forum WallStreetBets, which has helped drive trading activity in heavily shorted stocks likeGameStopandAMC Entertainmentin recent weeks.The forum had multiple active threads dedicated to silver on Sunday night. 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If it’s exposed that there are more paper claims on silver than actual silver, not only would payoff be enormous, but gold would be next.#Bitcoinfixes this.”The dramatic spikes in GameStop and other heavily shorted stocks were due in part to a short squeeze, which is a phenomenon where investors who have bet against a stock are forced to buy shares to cover their positions as the name moves higher.Melvin Capital, one of the hedge funds who originally had short positions in GameStop,lost 53% in January.","news_type":1},"isVote":1,"tweetType":1,"viewCount":209,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["MKFG","AONE.U"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":43,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}