Business
#silversqueeze is probably phoney. Here’s why – Stockhead
Is #silversqueeze fake news? Here’s why “it would not make sense for a bank to be tremendously short on a commodity”, especially silver.
Link copied toclipboard
The battle over US stock GameStop represents an extraordinary fight between rich instos and the disgruntled retail class.
Its a powerful narrative and, so far, retail appears to be winning.
Melvin Capital, the hedge fund at the centre of the GameStop drama, lost 53 per cent of its value in January.
Short sellers like Melvin borrow a stock (for a fee) and then sell it, expecting it to fall in value. They buy back the stock at some point and return it to the original owner.
…
-
Noosa News24 hours agoHow Lily Steele-Park took her rapist to court and won
-
Business17 hours agoWhy Vault Minerals, Droneshield, Westgold Resources shares are climbing higher today
-
General23 hours agoBrick portico a relic of ‘prestigious’ Horton College in northern midlands
-
Noosa News20 hours agoQueenslanders to continue legal challenges against COVID-19 directives after successful appeal