I’ve Never Seen A More Hated Investment Than AGQ

Shares of ProShares Ultra Silver (NYSEARCA:AGQ) dropped 20% over the past month, coinciding with a catastrophic collapse in retail investor sentiment on Reddit. The 2x leveraged silver ETF now holds the lowest sentiment score of any investment tracked, registering a 10.57 out of 100 on Reddit’s sentiment index, a very bearish rating that reflects widespread devastation among retail traders. The crash followed President Trump’s nomination of Kevin Warsh as Federal Reserve chair on January 30, which triggered a historic selloff in precious metals markets. AGQ amplified those losses through its 2x leveraged structure.

Retail Traders Count Their Losses

Discussion of AGQ on Reddit has turned intensely negative, with 21 qualified mentions over the past week generating 279 upvotes and 242 comments. The conversation centers almost exclusively on catastrophic losses. One post titled “I lost 2/3 of my life savings from silver crash” drew 269 upvotes and 235 comments, becoming the dominant narrative driving sentiment. The poster wrote about the devastating impact of the silver crash on their portfolio, describing how the losses affected their financial situation. This resonated deeply among retail traders who experienced similar losses. Another post analyzed “institutional Put Sweeps on $AGQ before the crash,” examining unusual options activity that preceded the decline. The post discussed how some traders believe the move was orchestrated based on the institutional positioning observed before the crash.

I lost 2/3 of my life savings from silver crash
by [deleted user] in options

institutional Put Sweeps on $AGQ before the crash
by [username] in options

The reasons for pessimism are concrete:

• Leveraged ETFs like AGQ amplify losses, turning silver’s decline into devastating losses for holders
• The Warsh nomination reversed the “debasement trade” that had driven precious metals higher in early 2026
• Margin calls forced additional selling as overleveraged retail traders faced liquidation

AGQ Stands Alone in Its Misery

While AGQ crashed, the unleveraged iShares Silver Trust (NYSEARCA:SLV | SLV Price Prediction) gained 4.2% over the past month, illustrating how AGQ’s 2x leverage magnified losses during the January selloff before the recent bounce. For investors watching AGQ, the key question is whether the Warsh nomination truly ends the precious metals rally or merely pauses it. Reddit sentiment suggests retail traders have been shaken out completely, with discussion migrating from r/wallstreetbets to r/options as the focus shifts from speculation to damage control.