fbpx

Silver and AMC Shoot Higher to Start the Week

GameStop isn’t the only thing surging.
(Michael Vi)
(Michael Vi)
Share on facebook
Share on twitter
Share on linkedin
Share on email

It looks like retail traders have shifted their attention, with AMC and the silver markets benefitting from the latest user-generated momentum, WSJ reports.

Silver futures increased notably early on Monday after the idea started to circulate through Reddit’s WallStreetBets forum.

  • Users posted about “executing a short squeeze similar to ones credited with fueling recent gains in other stocks popular on the internet.
  • “Silver broke above $30 an ounce as the precious metal took center stage in the retail investor frenzy sweeping through markets.”

But That’s Not All: Shares of AMC, and a bunch of other stocks favored by Robinhood traders, continued their premarket ascent Monday.

  • It all comes on the heels of “stunning gains last week.”
  • AMC Share Price (TK a.m.):

“Meanwhile, the broader market is regaining its footing, with index futures and markets in Europe and Asia trading higher.”

  • However, the markets remain ‘on guard” for sudden increases in shorted stocks, which could force investors to hedge their bets by dumping the assets.
  • That dynamic took Wall Street to its roughest week since October.

What’s Next: “Online brokerage Robinhood Markets late Sunday lifted restrictions on a few of the most popular stocks and options contracts that had been roiling markets.” Now, we wait and see.

Keep Reading: Meet DeepF—ingValue, the WallStreetBets trader that drove GameStop mania.

Justin Oh:

Having gone live on Brian Jung’s channel yesterday, I saw an overwhelming amount of comments spammed about $AMC and Silver and $SLV so it’s no surprise that $AMC and $SLV are jumping higher today. 

But Wall Street Bets (WSB) is actually discrediting the Silver pump and saying it’s a coordinated distraction from Wall Street (see below screenshot). 

I’m not sure what to believe at this point, but I do know that there is a high risk that the “movement” will be divided and conquered if retail investors get too distracted between $GME, $AMC, Silver, Dogecoin, and others.

Share on facebook
Share on twitter
Share on linkedin
Share on email

Responses

Related Posts