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AMC Theater snubs cryptocurrency with $28 million investment in precious metal mine

AMC has announced a 22% acquisition in Hycroft Mining Holdings for a $27.9 million investment. Commenting on the deal, AMC CEO Adam Aron said he saw parallels between Hycroft’s current situation and AMC a year ago, adding that the investment could turn out mutually beneficial.
“It, too, has rock-solid assets, but for a variety of reasons, it has been facing a severe and immediate liquidity issue. Its share price has been knocked low as a result. We are confident that our involvement can greatly help it to surmount its challenges — to its benefit, and to ours.”
AMC, and fellow meme stock GameStop, have failed to recapture the enthusiasm of last year’s WallStreetBets movement, at least from a share price perspective. Considering the macro picture, it appears that AMC is hedging with precious metals over cryptocurrency.
For a company that has championed the crypto cause since its meme stock revival, for example, in accepting Shiba Inu and Dogecoin as payment methods, the investm

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