Why AMC Stock Is Rocketing Higher Today

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Is this the mother of all short squeezes that AMC Entertainment ( AMC 26.63% ) investors have been waiting for?

Why AMC Stock Is Rocketing Higher Today

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After another week of a rapidly rising stock price, shares of AMC were soaring 22.2% at 11:30 am EST on Monday.

Why AMC Stock Is Rocketing Higher Today

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The stock has now nearly doubled in just two weeks, and it has to be putting pressure on short-sellers, many of whom are likely moving to cover their positions.

Why AMC Stock Is RockeSo whatting Higher Today

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AMC remains a highly shorted stock, with more than 20% of its shares outstanding sold short.

SO WHAT ?

Why AMC Stock Is RockeSo whatting Higher Today

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What many of those traders didn’t expect was for the movie theater operator to zig when they anticipated a zag.

SO WHAT ?

Why AMC Stock Is RockeSo whatting Higher Today

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The announcement that AMC was buying a stake in a gold and silver miner threw conventional wisdom out the window and sent its stock off to the races.

SO WHAT ?

Why AMC Stock Is RockeSo whatting Higher Today

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Peter Lynch had a word for when companies went astray and acquired businesses far outside their circle of competence: de-worsi-fication.

SO WHAT ?

Why AMC Stock Is RockeSo whatting Higher Today

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Precious metals mining has nothing to do with operating a movie house, but Hycroft Mining ( HYMC 78.91% ) was similar to AMC in one way:

SO WHAT ?

Why AMC Stock Is RockeSo whatting Higher Today

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That was where AMC found itself when hedge funds were betting against it, and small retail investors rallied around the stock and have helped keep shares afloat.

SO WHAT ?