Silver was floating around in the financial media last weekend — mentioned on the radio, news channels and the newspaper — generally being hyped up to investors.
People are coming off their GameStop adrenaline high and looking for their next fix. There’s a worldwide guessing game underway to figure out what stock will be the next GameStop
Currently, there are a lot of rumors that the WallStreetBets group on Reddit is targeting silver for the next big short squeeze trade.
This interest in silver became even more intense when the iShares Silver Trust (NYSEArca: SLV) recorded the highest amount of volume in its history last Friday.
But even though silver spiked higher to $30 on Monday, prices sold off quickly…
Here’s why this was a classic pump and dump by the big boys on Wall Street.