Is Silver the Next GameStop?
Can Reddit traders do for silver what they did for GameStop (NYSE: GME)? They're certainly going to try: the price of the precious metal is spiking today, and #silversqueeze is trending on Twitter.
Born of the same group of investors who sent shares of the video game retailer rocketing 325% higher last week, shares of silver miners like Coeur Mining (NYSE: CDE) were soaring 30% higher in premarket trading while the exchange traded fund iShares Silver Trust (NYSEMKT: SLV) was up 9%.
The precious metal is seen by some as a way to punish Wall Street banks as a populist mood sweeps across investing discussion boards. It's a movement that is spreading out from its initial attempts to trap hedge funds that took enormous short positions on GameStop, AMC Entertainment (NYSE: AMC), and a number of other issues.
Source Fool.com
