Why Hycroft Mining Stock Sank 30% In March
Shares of Hycroft Mining (NASDAQ: HYMC) fell 30.1% last month, according to data from S&P Global Market Intelligence. Investors shied away from speculative stocks amid global turmoil, with gold and silver prices falling significantly last month. Instead of a global safe haven, metals have been turned into speculative assets over the past year, and investors are now fleeing them.
Hycroft Mining is a prospective gold and silver miner that was benefiting from these rising prices, with its own shares up over 1,000% in the last twelve months. Now, the party has ended, at least for now. Here's why Hycroft Mining stock fell last month.
The price of gold hit $5,440 in late January. Silver almost reached $120 an ounce. Both were up significantly in the last year, with gold close to doubling and silver going from $30 an ounce to $120, a quadruple.
Source Fool.com
