Silver Miner’s Reddit-Fueled Surge Sets Up Stock-Sale Bonanza
- Avino Silver & Gold Mines rose as much as 129% in New York
- Dual-listed Canadian company announced stock deal last week
Photographer: Chris Ratcliffe/Bloomberg
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A small Canadian silver miner is finding itself on the bright side of Reddit-induced market chaos just as it seeks to sell stock.
Avino Silver & Gold Mines Ltd. rose as much as 129% as trading volumes soared Monday in New York after the 53-year-old company was caught up in the whirlwind of the so-called Reddit Revolution. The surge came after the dual-listed miner, which has a silver operation in Mexico, disclosed last week plans to sell up to $25 million of newly issued shares into the U.S. market.