Reddit day traders look to silver as the next short-squeeze after being restricted from hot stocks

Reddit day traders look to silver as the next short-squeeze after being restricted from hot stocks

Reddit day traders are turning to silver for their next short-squeeze target after being restricted from hot stocks like GameStop and AMC on some trading platforms. Reddit's WallStreetBets has been the talk of the market over the past few weeks as the forum used retail traders' purchasing power to put the squeeze on institutional investors and short-sellers. Now it appears the day traders of Reddit have found their next target in precious metals. "Silver Bullion Market is one of the most manipulated on earth. Any short squeeze in silver paper shorts would be EPIC," a user on Reddit's WallStreetBets posted. "We know billion banks are manipulating gold and silver to cover real inflation. Both the industrial case and monetary case, debt printing has never been more favorable for the No. 1 inflation hedge Silver." Another post on the site said, "inflation-adjusted Silver should be at 1000$ instead of 25$. Why not squeeze $SLV to real physical price. 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 iShares Silver Trust gained as much as 7. 2% on Thursday morning after the posts, a significant move