That AMC Theatres Gold Mine Just Struck Coal

That AMC Theatres Gold Mine Just Struck Coal
AMC chief Adam Aron does a lot of bombastic things, but his decision to buy 22 percent of a random Nevada gold-mining operation during the Covid pandemic is one he might prefer to take back.

On Monday, Hycroft Mining Holding Corp. received a written notice from the Nasdaq for not being in compliance with the stock exchange’s 1.00 minimum bid price. Shares in Hycroft Mining (Hymc) have not closed above 1 since August 12; the Nasdaq gives a listed company a 30-day grace period before sending such a warning.

Hycroft now has 180 calendar days, or until April 3, 2023, to regain compliance. During that period. the stock must maintain a valuation of 1 for 10 consecutive business days. If that fails, there can be a second compliance period that requires a reverse stock split to meet the minimum bid price.

“There can be no assurance that the Company will be able to regain compliance with the Bid Price requirement,
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