GameStop Plunges as AMC, Silver Skyrocket in Volatile Trading

Shares of Gamestop took a massive plunge in trading on Monday–down 18%–as trading continues to be restricted.

Meanwhile, shares of movie operator AMC rallied as online traders turned their attention to the challenged company. In Monday trading, shares of AMC gained better than 9% trading at $14.49 per share as Reddit users aim to target the shorts in another short squeeze.

AMC, like GameStop, has had a very high level of short interest as a percentage of the overall float, at about 69% which is making it an attractive squeeze for traders on the popular Reddit forum, Wall Street Bets.

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Silver Highs

Silver, meanwhile, is skyrocketing, up more 7%, as online investors look to bid the commodity higher and, once again, squeeze the shorts. Silver futures briefly touched $30 Monday as more mining companies logged double-digit increases in stock prices.

The iShares Silver Trust, the world’s largest silver-backed exchange-traded fund, saw more than $1 billion of inflows on Friday.

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