The silver surge – which began on January 27 and saw the price of the industrial metal soar to an eight-year high of more than $30 per oz before slipping to just below $27 per oz by Tuesday January 2 – followed a phenomenal upswell in the stock of GameStop Corp and other Reddit favorites.
But a closer look at their online forums reveals that many Reddit investors actually stayed on the sidelines during the silver rally, fearing that it was a distraction from their GameStop investments and, more importantly, that the banks and hedge funds they were trying to band against were probably also profiting.
Many hedge funds are long-only silver and would have benefited from any short-squeeze attempts, defeating the purpose of any attempted uprising against the so-called financial elite.
As one Reddit investor put it: “Stay away from silver stocks unless you really know what you’re doing. Our mission...
