Reddit mascots are displayed at the company's headquarters in San Francisco, California April 15, 2014. — Reuters pic
NEW YORK, Feb 2 — Silver dropped more than 4 per cent today and GameStop Corp sank 33 per cent in early European deals, raising questions about how long a social media-fuelled trading frenzy in stocks and other assets would last. The populist trading rally, organised in online forums such as Reddit’s WallStreetBets, has helped attract a flood of retail cash into stocks such as GameStop, burned hedge funds that had bet against the stocks and roiled broader markets.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.
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