Silver Rises With Hype It’s the Next GameStop, but a Backlash Mutes Gains

Silver Rises With Hype It’s the Next GameStop, but a Backlash Mutes Gains

GameStop vs. Wall StreetCharting the Wild Stock SwingsWhat's GameStop Really Worth?Your TaxesReader's GuideSilver jumps as traders seek a new target to squeeze, but its early gains fade.Some companies that sell silver said there would be delays in fulfilling orders because of high demand.Credit...Michael Dalder/ReutersBy Eshe NelsonFeb. 1, 2021Updated 5:29 p.m. ETAfter the frantic price swings of companies like GameStop and AMC Entertainment last week, everyone wondered what the army of internet investors that drove the frenzy would set their sights on next.The answer, at least briefly, was silver.Over the weekend, the precious metal experienced a surge of interest that carried into trading on Monday. But the investment didn't garner quite the same enthusiasm as GameStop, the video-game retailer that surged more than 1,600 percent in January. Silver jumped as much as 11.5 percent on Monday after online calls to create a “silver squeeze,” but those gains faded, and by the afternoon, it was up about 9 percent.Shares of GameStop, meanwhile, fell more 31 percent, while AMC Entertainment was unchanged after its early gains Monday were also erased.Both of those stocks, at least, were losing steam after weeks of buying that had lifted their share prices to unimaginable highs.But the silver