The rally in silver halted overnight with prices slipping back below US$30 after CME Group raised Comex 5000 Silver Futures maintenance margins by 17.9 per cent. Frankfurt-listed shares of GameStop, the trigger for the slugfest between amateur investors and Wall Street hedge funds last week, also plunged 37 per cent at the open following a 19 per cent slide on Monday.Robinhood, the easy access brokerage app which has fueled the trades, raised another $2.
4 billion in funding on top of the $1 billion it raised last week after its finances were strained by the retail trading frenzy, but will that be enough?Article content continuedThe number of GameStop shares that were shorted fell by more than half last week as short sellers scrambled to cover their bets due to soaring valuations of stocks they had bet would fall. Still, GameStop short interest stood at US$8.82 billion as of Friday, making it the sixth-biggest short by value, according to S3.
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Five things to watch in Reddit stocks trading maniaHedge funds, small investors and stockbrokers are bracing for tougher U.S. markets regulation, with officials expected to meet this week to assess the fallout from a social media-driven market frenzy that has roiled stocks and silver prices.
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