Why TMC The Metals Company Skyrocketed Today
Shares of Vancouver-based TMC The Metals Company (NASDAQ: TMC) rocketed 22.7% higher on Monday as of 1:07 p.m. ET.
The Metals Company was mentioned in a Wall Street Journal article this past weekend, highlighting an April 24 executive order from the Trump administration directing the National Oceanic and Atmospheric Administration (NOAA) to grant permits to mining companies to extract critical metals from the sea floor. The metals include manganese, cobalt, copper, and nickel.
While the executive order happened in late April and The Metals Company surged on the news, apparently this WSJ piece has increased the company's visibility and the overall massive financial opportunity for the company, sending the stock another leg higher.
Source Fool.com
