Shares of Hycroft Mining rallied in very active trading Tuesday, as the gold and silver miner enjoyed its new meme-like status, with help from new investor AMC.
Shares of Hycroft Mining Holding Corp. rallied in very active trading Tuesday, as the gold and silver miner enjoyed its new meme-like status, with help from new investor AMC Entertainment Holdings Inc.
The movie theater operator AMC, +0.38% and metals investor Eric Sprott had announced before the March 15 open that they were each making a $27.9 million investment in Hycroft, in a move that stunned many on Wall Street given that the Hycroft operated in a business that was well outside AMC’s core competency. Read more about AMC’s investment in Hycroft.
That they did, as the value of the 46.82 million shares of Hycroft that AMC owned has increased by $69.3 million in two days. That’s more well more than double AMC’s initial investment of $27.9 million.
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