Reddit traders move on to silver as their next short — Here's what's next for the precious metalStocks jumped on Monday, the first session of February, as Wall Street appeared to shake off concerns about a speculative retail trading mania that largely drove the market's worst weekly sell-off since October.
"The return of volatility over the past week has been driven by market positioning rather than worries over growth," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. and settled 9.3% higher, the biggest one-day jump in 11 years. The Reddit chat room had multiple active threads dedicated to silver, while the phrase "#silversqueeze" was trending on Twitter at one point.
ClosingBell $ALTO ringing the closing bell today for Nasdaq jimcramer MadMoneyOnCNBC
ClosingBell Die down? We are just getting started :)