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      AMC Entertainment Holdings Inc. (AMC) stock Further Up After Hours. Here’s why? - Stocks Telegraph

      By Gule Rukhsar

      Published on

      March 23, 2022

      5:42 AM UTC

      AMC Entertainment Holdings Inc. (AMC) stock Further Up After Hours. Here’s why? - Stocks Telegraph

      On March 22, AMC Entertainment Holdings Inc. (AMC) had another day of trading in the green with gains in both regular and after-hours sessions. The stock has been trending actively since the company announced its surprise and unorthodox move of investing in Hycroft Mining. Moreover, the company recently increased its ticket price for the new Batman movie which also paid off.

      During the regular session on Tuesday, the stock surged by a nice 15.13% which was followed by a further gain of 10.84% in the after-hours. Closing at a price of $18.26 per share, AMC shot up to $20.24 per share in the after hours. Both the sessions witnessed active volume with 81.8 million shares and 6.08 million shares in the regular and after-hours trading, respectively.

      Founded in 1920, AMC Entertainment Holdings Inc. owns 1000 theaters and 10,700 screens worldwide. Currently, the company’s 516.78 million outstanding shares trade at a market capitalization of $8.2 billion.

      Source: Hedge Think

      AMC’s Investment in Hycroft

      On March 15, the company announced its plan to invest in the precious metals (gold & silver) mining company, Hycroft Mining Holding Corporation (HYMC). Hycroft holds the Hycroft Mine in Nevada, which has over 15 million ounces of gold resources and nearly 600 million ounces of silver.

      Through an investment o $27.9 million, AMC received 23.4 million units consisting of a common share of Hycroft and a common share purchase warrant. Priced at $1.193 per unit, the company received the units in a private placement closed on March 15.

      In addition, Eric Sprott, one of the world’s leading gold and silver investors, also made the same investment in Hycroft as AMC. Thus, the combined investment in Hycroft was $56 million from AMC and Mr. Sprott.

      Strategic or Bananas?

      While most are considering the theater owner’s investment in mining a bananas move, some do praise it for being logical. While the surge in gold and precious metal prices could justify the move as sane and logical, there are various factors to call it to bollocks. Hycroft mining has been struggling with keeping its only mine up and ruining lately. As of now, HYMC is not an active miner as it ceased operation at the mine last November. Claiming to plan to build a mill for gold and silver sulfide ore processing, HYMC hasn’t even done a feasibility study. But, HYMC does have solid assets and who knows with this investment it just might be up and running sooner than expected.

      Furthermore, according to AMC’s CEO Adam Aron, the company’s own challenging course has enlightened it towards helping other businesses on the verge of going down

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