The Clap AMC Theatres (NYSE: AMC), which is more recently remembered for being a meme stock, announced the acquisition of a 22% stake in Hycroft Mining Holding (NASDAQ: HYMCW).
The meme stock for gold mines? AMC’s CEO Adam Aron compared Hycroft’s current situation to the one AMC was in a year ago: “rock-solid assets, but for a variety of reasons, it has been facing a severe & immediate liquidity issue.”
They’re not alone AMC’s not entering into gold & silver mining completely on its own. Longtime gold & silver investor Eric Sprott is acquiring the same size stake as AMC, with both stakes combining to a $56 million investment.
Talk about a stock surge Shares of HYMCW surged more than 100% in yesterday’s trading session following the news.