AMC’s basis in 46.8 million shares and warrants of Hycroft is $1.07 each (+ $2.9 million). We took some mindless flack from Wall Street “pro’s” two weeks ago. But right now, I am in the kitchen preparing for them some aromatic crow soup, crow stew and crow pie. #LetThemEatCrow
For the 2nd day in a row, AMC Entertainment (AMC) was the single most active stock of the almost 2500 companies on the New York Stock Exchange. Also for the 2nd day in a row, Hycroft Mining (HYMC) was the single most active stock of the more than 3300 companies on the NASDAQ.
#LetThemEatCrow indeed. I was certain we could seriously help HYMC. But in only two weeks? Even I think 2 weeks is a WOW. We can’t yet know exactly who bought the new Hycroft shares, but I’m guessing that it was retail individual investors who once again are the heroes here.
You know, as the sitting CEO of an NYSE-listed company, I could never say publicly what is in NorCal’s tweet, not in a million years. But, hey, I can’t stop you from saying it. #HaHa. What I can say to those who doubted AMC’s investment in HYMC…. #CHOKEonTHAT