Those who are on the lookout for mining stocks could consider tracking the Avino Silver & Gold Mines Ltd (NYSE: ASM) stock, which recorded significant gains on Monday.
The Avino Silver stock soared by as high as 50% on Monday to emerge as one of the more notable gainers from among mining stocks. While the gains are eye-catching, it should be noted that the main reason behind the remarkable rally in the stock is the social media encouragement to buy the stock from social media users.
A number of investors started a whisper campaign of sorts across a range of social media platforms like Discord, Reddit, Facebook, StockTwits, and Twitter. The goal was to push up the price of the Avino Silver stock through the purchase of call options in the stock. That has resulted in short-sellers buying the stock heavily and resulted in a further spike in the price. It could be worthwhile for investors to keep an eye on the stock today.