AMC funding Hycroft Mining discloses understand of violation of Nasdaq record requirement

Hycroft Mining Holding Corp.
disclosed Tuesday that it was notified by the Nasdaq exchange that it is in violation of the minimum-bid listing requirement. Under the Nasdaq Listing Rules, a company’s stock is required to maintain a minimum bid of $1.00 per share, based on the closing bid price for the last 30 consecutive trading sessions. Hycroft has 180 days, or until April 2, 2023, to regain compliance, which involve the stock closing at or above $1.00 for ten-straight sessions. Hycroft’s stock, which closed Monday at 69 cents, has closed below $1.00 every day since Aug. 15. Hycroft became well know to investors after “meme stock” and movie theater operator AMC Entertainment Holdings Inc.
surprised investors by announcing an investment in the miner on March 15, in an effort to take advantage of the “meme stock” frenzy. Hycroft’s stock closed March 15 at $1.52, and closed at an eight-month high of $2.59 on March 29. Since then, the stock has plunged 73.4% through Monday, while AMC shares have plummeted 62.0% over the same time and the S&P 500
has tumbled 20.6%.

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