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Title: WisdomTree Terminates Triple Leveraged Nickel Product After Investor Wipeout
Source: [None]
URL Source: https://www.zerohedge.com/commoditi ... roduct-after-investor-wipe-out
Published: Mar 8, 2022
Author: Tyler Durden
Post Date: 2022-03-08 23:38:22 by Horse
Keywords: None
Views: 49

A leveraged nickel exchange-traded commodity (ETC) product is dead. WisdomTree Investments announced on Wednesday the Nickel 3x Daily Short exchange-traded commodity (ticker 3NIS) has been wiped out due to the metal's historic short squeeze in the last 48 hours.

"The Redemption Amount of the WisdomTree Nickel 3x Daily Short securities has been calculated as zero so investors should not expect to get paid for the securities they hold," a notice on WisdomTree's website read.

3NIS had a little more than $7 million in assets last week ago. The 250% surge in nickel prices on the London Metal Exchange to over $100k per ton has blown up the ETC's commodity investments which were likely in future contracts.

Poster Comment:

The people shorting gold and silver use the FED's printing press to cover their losses.

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