Why AMC Struck Gold Today
Investors in movie-theater operator AMC Entertainment (NYSE: AMC) were surprised to see news today about what the company's doing with some of the cash it's raised over the last two years. The stock's initial reaction was a pop of almost 8% Tuesday morning. As perhaps the novelty wore off for some retail investors, however, the stock pared its gain to about 3.3% as of 10:43 a.m. ET.
Why the pop and subsequent reversal? Because it's hard for investors to quickly process why AMC has just invested almost $30 million in a gold and silver mine in Nevada.
Image source: Getty Images.
Source Fool.com
