Wall Street's GameStop bug may have mutated; silver surges

NEW YORK — The erratic trading in shares of underdog companies like GameStop that turned markets combustible last week appears to have migrated to commodities, sending silver prices surging to an eight-year high.

Silver futures jumped almost 12% on Monday to over $30 per ounce following strong gains over the weekend. That exuberance spread to companies that mine precious metals, especially silver. Shares of Pan American Silver surged more than 9%, First Majestic Silver rose 18.7%, Hecla Mining spiked 21.8%, and Coeur Mining soared 17.6%.

On Twitter, #silversqueeze began to trend as just the latest anomaly to emerge from the “WallStreetBets” forum on Reddit.

The online army of Reddit

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