Trade war - Hedge Funds vs Reddit Users
There is no problem with billionaires getting richer.
What I have a problem with is billionaires who obstruct the way of wealth to new comers and keeping them poor or dependent on paychecks and government aid, also the ones who step over the little guy, give him an insufficient paycheck and use dirty tricks to make money and avoid the taxes.
As soon as they Wall St. starts losing money in the stock market they change the rules of the game. It's disgusting.
After a week some investors will never forget, On 1st Feb 2021, The shares of Gamestop closed 31% lower at $225 in New York, wiping out $7 billion in market value.
GameStop's decline came as short interest for the company plunged to 53% of its available shares, from more than 140% just last month, according to data from financial analytics firm S3 Partners.
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” Henry Ford.
The price of silver has hit a five-month high as the online trading war between Reddit users and Wall Street hedge funds spills over into the precious metals market.
Last week, shares in struggling US video-games retailer GameStop skyrocketed after Reddit forum WallStreetBets took on huge hedge funds that were betting against the stock. The war between short sellers and the band of private investors has seen GameStop’s share price jump by 1,700% in the space of a month.
Now, small-time investors on WallStreetBets are teaming up to pump their money in silver, in what appears to be a fresh bid “to hurt big banks they believe are artificially suppressing prices”, says CNN.
Along with the hike in silver-mining stock prices, coin-selling websites were also “swamped” this morning as “small-time investors piled in to the metal”, The Guardian reports.
Silver prices quickly climbed as high as $30 an ounce, its highest value in eight years, as traders “bought en masse”, adds the BBC.
WallStreetBets forum members argue that silver is a heavily manipulated market, and “a surge in the silver price could hurt large Wall Street players”, the broadcaster adds.
Reddit user RocketBoomGo said: “Think about the Gainz. If you don’t care about the gains, think about the banks like JP MORGAN you’d be destroying along the way.”
The hashtag #silversqueeze was trending on Twitter as retail silver coin sites became “overwhelmed with physical demand for silver” early on Monday before grinding to a halt as the buying “frenzy” for bars and coins took hold, Bloomberg reports.
The price of silver has hit a five-month high as the online trading war between Reddit users and Wall Street hedge funds spills over into the precious metals market.
Last week, shares in struggling US video-games retailer GameStop skyrocketed after Reddit forum WallStreetBets took on huge hedge funds that were betting against the stock. The war between short sellers and the band of private investors has seen GameStop’s share price jump by 1,700% in the space of a month.
Now, small-time investors on WallStreetBets are teaming up to pump their money in silver, in what appears to be a fresh bid “to hurt big banks they believe are artificially suppressing prices”, says CNN.
Along with the hike in silver-mining stock prices, coin-selling websites were also “swamped” this morning as “small-time investors piled in to the metal”, The Guardian reports.
Silver prices quickly climbed as high as $30 an ounce, its highest value in eight years, as traders “bought en masse”, adds the BBC.
WallStreetBets forum members argue that silver is a heavily manipulated market, and “a surge in the silver price could hurt large Wall Street players”, the broadcaster adds.
Reddit user RocketBoomGo said: “Think about the Gainz. If you don’t care about the gains, think about the banks like JP MORGAN you’d be destroying along the way.”
The hashtag #silversqueeze was trending on Twitter as retail silver coin sites became “overwhelmed with physical demand for silver” early on Monday before grinding to a halt as the buying “frenzy” for bars and coins took hold, Bloomberg reports.
Robinhood put restrictions on Trades to Buy but not to Sell.
Robinhood said Saturday its deposit requirements increased ten-fold this week.
Company tapped credit lines for $600M and received $1B investor bailout.
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