Comstock Mining Inc (NYSE:LODE) stock shot up nearly 122% in the regular and after-hours session on Monday.

What Happened: The Nevada-based gold and silver mining company benefitted from the momentum in Silver on Monday. 

Volumes stood at 320.86 million, while the average volume for Comstock Mining is 603,926.

See also: How to Invest in Gold

Spot silver traded 1.19% lower at $28.67 at press time, while March 21 silver futures traded 1.86% lower at 28.87. 

The iShares Silver Trust (NYSE:SLV) closed 7.08% higher at $26.76 on Monday.

Silver prices rose to an 8-year high of over $30 an ounce, due to speculation of a retail investor-led short squeeze frenzy in the precious metal.

See Also: Silver Futures Shoot Up 5% As WallStreetBets Seeks Short Squeeze

However, the rally in silver slowed as doubts emerged on the ability of retail traders to move prices in the liquid commodities market, reported Reuters.

Stocks on the radar of the WallStreetBets traders cooled down in the after-hours session on Monday.

Price Action: Comstock Mining shares closed 116.91% higher at $2.95 on Monday and rose 5.08% to $3.10 in the after-hours session.