TMC (TMC) Falls on Uncertainties from Deep-Sea Mining Talks

TMC the metals company Inc. (NASDAQ:TMC) is one of the 10 Stocks That Investors Are Dumping.

TMC dropped its share prices for a third straight day, losing 4.42 percent to close at $6.27 apiece as investors continued to unload positions amid uncertainties in the resumption of deep-sea mining talks.

This is after the International Seabed Authority (ISA) announced the revival of negotiations on the controversies surrounding deep-sea mining, following President Donald Trump’s order last April to fast-track permits for deep-sea mining even beyond US waters, taking advantage of its non-membership in the organization.

Sentiment was further dampened by TMC, the metals company Inc.’s (NASDAQ:TMC) bypassing of the ISA after its immediate submission of its first offshore license application, despite being a Canadian company and with Canada being a member of the organization.

In recent news, TMC the metals company Inc. (NASDAQ:TMC) earned an “outperform” rating from Wedbush and an $11 price target, a significant upgrade from its “neutral” stance and $6 price target previously.

TMC (TMC) Falls on Uncertainties from Deep-Sea Mining Talks

A tunneling machine underground, deep in the mine to extract the polymetallic nodules.

According to Wedbush, the upgrade was based on a stronger US government from President Donald Trump’s executive order in April, “Unleashing America’s Offshore Critical Minerals and Resources,” which could allow TMC the metals company Inc. (NASDAQ:TMC) to bypass the UN-affiliated International Seabed Authority and ramp up production in the Clarion Clipperton Zone.

While we acknowledge the risk and potential of TMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TMC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.