The Reddit WallStreetBets community has propelled Nokia's stock - is silver next?

This week, the investment world has been buzzing about the counterattack from the popular online discussion forum Reddit's WallStreetBets community against the price speculation of large hedge funds. The community managed to influence the stock prices of major publicly traded companies - including the Finnish company Nokia - in a completely unprecedented way. The WallStreetBets community is known for its method of collectively selecting investment targets, often diverging from analysts' recommendations. One of the community's targets was the stock of the gaming company GameStop, whose value increased by over a thousand percent in just two weeks as a result of the community's actions. The value of Nokia's stock, more familiar to Finns, doubled in just one day. Nokia commented exceptionally on the development of its stock price and stated that the company has no knowledge of any specific reason that could have caused the unusually rapid price increase and rise in trading volume. Helsingin Sanomat describes the group of retail investors on the WallStreetBets channel as a band of rebels aiming to disrupt the plans of Wall Street brokers and institutional investors.

Short selling behind the course increases

How did the unofficial Reddit community cause the stock prices to rise, and why?
The backlash is rooted in frustration with the short-selling strategies of major players in the financial world; short-selling refers to investors betting on a decline in a stock's value. An investor makes money from a price drop by borrowing the shares in question from the market and selling them. A short seller trades shares they do not own, and when the stock price falls, they buy the stock back at a lower price than when they borrowed it. The difference between the prices remains in favor of the short seller, but if the price rises, the short seller loses money.
In the WallStreetBets community, it was observed that the stocks of certain companies had been driven down by hedge funds for quite some time. The community decided to start buying shares with the aim of causing a price increase and disrupting the trading strategies of short sellers. This indeed happened, and for example, short sellers who had bet against GameStop's stock price decline lost. According to Business Insider, at least five billion dollars.

Next silver?

In the same Reddit community, the topics of discussion have now also included commodities and cryptocurrencies. In particular, silver and the long-standing decline in its value since 2011, as well as allegations of price manipulation, have been discussed on Reddit's forum..
After the discussion started, silver mining stocks unexpectedly rose without any specific reason. In particular, the prices of the Canadian silver mine First Majestic Silver (AG) and the iShares Silver Trust ETF (SLV) surged sharply as the Reddit discussion began.
Silver is widely used in the production of jewelry and solar panels, which is why many analysts believe that silver will perform better than gold during 2021.
The sale of silver in Finland is subject to value-added tax, unlike gold. Jalonom offers storage services for silver to businesses and communities in a value-added tax warehouse, where tax does not need to be paid at the time of purchase but only when the storage is retrieved. In our online store, we have available silver bars and silver coins (AGD).