Is It Too Late to Buy TMC The Metals Company After Its 32% Rally?
TMC stock is rallying after a decent second-quarter. But investors should keep an eye on this one development.
Overview
TMC The Metals Company (NASDAQ: TMC) is a one-of-a-kind mining company that sits at the heart of America's push for green power. Indeed, there is no company in the world doing the kind of mining that TMC aspires to do as it is not yet legally permitted.
In a nutshell, TMC aims to commercially collect polymetallic nodules -- that is, potato-sized rocks rich in nickel, cobalt, copper, and manganese. These metals are critical for clean energy, electric vehicle (EV) batteries, and other high-tech manufacturing. TMC's plan is to harvest the nodules from the seafloor of the Pacific Ocean and then refine them into battery-grade metals to sell to industrial buyers.
Details
TMC does not have regulatory approval to mine the seafloor; as such, it also doesn't yet have revenue. Its speculative nature as a stock means its price has been all over the chart, from $10 a share last fall to about $5 today.
Source
Originally published at www.fool.com.
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