Silver Short Squeeze 2021: Pump and Dump?
Silver was floating around in the financial media this weekend — mentioned on the radio, news channels and the newspaper — generally being hyped up to investors.
Why?
People are coming off their GameStop adrenaline high and looking for their next fix. There’s a worldwide guessing game underway to figure out what stock will be the next GameStop
Currently, there are a lot of rumors that the WallStreetBets group on Reddit is targeting silver for the next big short squeeze trade.
This interest in silver became even more intense when the iShares Silver Trust (NYSEArca: SLV) recorded the highest amount of volume in its history last Friday.
But even though silver spiked higher to $30 on Monday, prices sold off quickly…
Here’s why this was a classic pump and dump by the big boys on Wall Street.
1 Comment
I do think you have erred here as there are very real reasons silver is finally rising. It has been under-priced for a long time given the supply is diminishing in a way that cannot be repaired. The uses are expanding and will be driven by legislation requiring solar panels. The appeal of silver coins as something government will never outlaw or confiscate as they are “works of art” and in small enough denominations to be used in personal commerce.. The fact is, “Silver Is Innocent.”