Precious Metals is hoping to catch a glimpse of the crowd that drove Gamestop, but one major player is putting its money into EV Metals.
On Tuesday, billionaire investor Chamath Palihapitiya said on Twitter that he had bought $ 115 calls on Gamestop. The move was part of a broader short press, a Wall Street versus Main Street, driven by Reddit. Palihapitiya has a huge social following on Twitter, 974,000 followers.
The stake in Gamestop soared after the company became a business. The hedge funds severely curtailed the company. Redditors have taken the other side of the bet, and the run-up means the funds will now take huge losses.
Business Insider estimates that Palihapitiya’s 50 of the money options on GameStop, valued at approximately $ 125,000, increased by 300%.
The former Facebook CEO and now founder of Social Capital told CNBC yesterday he was taking profits from the trade. He also tweeted today that he added his lithium, nickel and cobalt position.
dear diary, today was busy:
1. bought some YOLO calls $ gme
2. announced that I am running for governor of CA?
3. bought more Li, Ni and Co stock for batteries
4. completed details of a new insurance company I co-foundeddetails of # 4 come tmr morning. I think what you think …
– Chamath Palihapitiya (@chamath) 27 January 2021
In the Twitter thread, he further elaborated that he buys miners for EV material.
Electric vehicle materials will rise as governments around the world invest in energy transition.
Mining Twitter has wondered what could be if the Gamestop crowd pays attention to precious metals.
If you think the short press in #GameStop is epic, wait till you see what happens #gold and # silver when the shorts need to be forced into those markets. GameStop can easily issue more shares, but it is very difficult to deliver new stock of physical gold and silver!
– Peter Schiff (@PeterSchiff) 27 January 2021
Can you think of @wallstreetbets moved into the Comex #gold & # silver market …. AND MOVEMENT FOR DELIVERY !!! Oh man, now it will be EPIC !! @InvResDynamics @ArcadiaEconomic @TFMetals @ silverguru22
– Trevor Hall – Mining Stock Daily (@TrevAHall) 27 January 2021
A post in Reddit’s Wall Street Bets (WSB), the sub-reddit attributed to the leading pressure on Gamestop, has a post on silver with more than 2,500 votes.
This may reflect too little interest in the top daily posts on the WSB with more than 100,000 likes.
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