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.
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.