The Reddit group Wallstreetbets is now eyeing to brief squeeze silver market, one of many closely shorted markets with the vast majority of the brief place purchased by JP Morgan. The worth of silver has already risen by 6% for the day and it appears the Redditors have began shopping for the Silver much like GME shares.



With the present value of the silver spot value at $26, the worth would wish to go as much as $500 to drag a Melvin on JP Morgan.

With Nasdaq and Robinhood halting Gamestop GME inventory buying and selling amid retailers and Redditors raging a warfare in opposition to Wall road brief patrons liquidating billions of brief positions, the retailers have turned their eye on the silver market now. Melvin group brief positions mounted over $13 billion put up retailers closely purchased the GME shares pushed by the memes and Reddit discussions.

Would Silver [$SLV] do a GME?

Many are calling this the start of a brand new buying and selling period led by retailers in an area primarily dominated by hedge funds and institutional traders. Many of the hedge funds use the identical tactic of manipulating the retail market through tv to soar their inventory costs,  however when retailers determined to do the identical, they’ve resorted to bullying ways by halting and suspending trades.

GME inventory value was buying and selling as little as $3.36 in April final yr when the corporate was on the verge of closure, the hedge funds had guess closely in opposition to the inventory to the tank that might have made them billions. Nonetheless, wallstreetbets determined to do the identical and known as everybody to purchase as many GME shares as potential hovering its costs to above $400.



Silver would wish to rise by practically $480 to liquidate JP Morgan’s billions of brief positions. The retailers have proved their value by shorting wall road forcing them on the again foot, it could actually prolong that sentiment by pushing the silver value now. The silver market is so closely shorted {that a} $1 value rise in Silver’s value liquidates practically $200 million value of brief positions.

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