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Silver Squeeze
- ghego1 6y agoAs a non informed investor I must say that the arguments put forward by WSB are very convincing. On top of that I wonder, what's the use for silver apart jewelry and that sort of luxury stuff? I genuinely don't know, but if silver is only good for those things, I'm convinced that it will drop more and more. It is no longer so fancy to have silver stuff and it has maintenance costs (cleaning, storing, etc.) that are not worth it IMHO. On the other hand, gold is known for it's unique properties, so, besides jewelry, it has tons of applications. Which justifies its relevance in modern societies and, as a store of value, makes a lot more sense.
- mbg721 6y agoIt does have some medical uses (although I doubt you need very much of it for those). There was that one political candidate (from NM?) who managed to use colloidal silver to dye himself blue in anticipation of Y2K.
- dariusj18 6y agoApparently it is used a lot in electronics https://geology.com/articles/uses-of-silver/ https://geology.com/articles/uses-of-silver/
- deleted 6y ago[deleted]
- codyb 6y agoIt’s hard to understand what happens here. Obviously, if market manipulation is bad, then banding together to act en masse and drive stock prices to unreal levels is bad. But, what do you do? Ban the internet? Ban retail traders from accessing the markets? Simplify the markets? It seems to be a classic pyramid scheme predicated on the idea the hedge funds will pay and maybe a couple will but I suspect Wall St, its executives, other hedge funds, institutional investors and its clearhouses/market makers/brokerages are hoovering up most of the profits, so it seems like an odd way to “get back at them”. All very bizarre.
- thinkingemote 6y agoThere will be many normal people who got sucked in by the hype and will lose. The house always wins.
- dariusj18 6y agoI don't necessarily think it should change, but I think the fee free trades remove a pretty heavy barrier to this kind of manipulation.
- ldiracdelta 6y agoI think this craziness encourages fundamental questions -- what is the actual value of this stock or commodity? If you're just surfing the wave of the stock ups and downs and jumping onto a band wagon instead of actually understanding whether a stock is overvalued or undervalued by your own investigations, then you're bound to get screwed some day anyways. However, if you know that the market is acting crazy and totally undervaluing a stock due to fundamental analysis that you have done, then you know you should buy it.
- hcurtiss 6y agoIt’s the Wild West out there. If everyone is pumping something (or deflating the same), it will soon become background noise. I genuinely believe the solution to market manipulators is more of this, not less.
- Leparamour 6y agoHas Robinhood already suspended buying silver due to the volatility in order to "protect customers from risk"? No?