{"id":22977,"date":"2021-01-31T23:30:38","date_gmt":"2021-02-01T04:30:38","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=22977"},"modified":"2021-02-01T09:42:50","modified_gmt":"2021-02-01T14:42:50","slug":"markets-metals-navigator-wallstreetbets-silver-squeeze","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/markets-metals-navigator-wallstreetbets-silver-squeeze\/","title":{"rendered":"Markets & Metals Navigator: WallStreetBets Executes the Silver Squeeze"},"content":{"rendered":"

Silver Catches the Reddit WallStreetBets Pump<\/h2>\n

Wall Street was pit against retail investors last week as the WallStreetBets reddit community executed a brilliant squeeze on short sellers of GameStop (NYSE:GME) sending the shares up 400% last week and 1,630% year-to-date.<\/p>\n

The rise of the organized retail investor has caught Wall Street veteran hedge funds off guard, Melvin Capital Management was one of the biggest losers – down 53% in January and having to take\u00a0 $2.75 billion in emergency from Citadel and Point72.<\/p>\n

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The Reddit retail investor army then turned their firepower to squeezing silver higher on Thursday of last week, by Sunday night silver had rallied 12.5% in 3 trading sessions reaching $28.57\/oz.<\/p>\n

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As of Sunday several large silver bullion retail dealers (APMEX, JM Bullion & SD Bullion) are all sold out of silver to sell to customers on their websites (see tweet below).<\/p>\n

In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number of silver ounces that they normally would sell in an entire weekend leading to the Sunday market open.<\/p>\n

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APMEX, JM Bullion, and SD Bullion are all out of available silver at the moment.<\/p>\n

So if anyone wonders if @wallstreetbets<\/a> (#Reddit<\/a>) has the ability to impact the #silver<\/a> market, the dealers running out, & 34 million $SLV<\/a> shares being added on Friday are the answers that matter. pic.twitter.com\/4fE0X2ohoM<\/a><\/p>\n

— ArcadiaEconomics-Squeeze the Silver Shorts!\ud83e\udd48\ud83c\udfdd\ud83c\udf7e (@ArcadiaEconomic) January 31, 2021<\/a><\/p><\/blockquote>\n