TMC (TMC) Ends 10% Lower After Successful Share Sale
TMC dropped its share prices by 10 percent on Tuesday to close at $5.94 apiece amid the broader market pessimism, and following the completion of Korea Zinc's investment in the company.
Last month, TMC the metals company Inc. (NASDAQ:TMC) announced a strategic investment agreement with South Korea-based Korea Zinc, a non-ferrous metal refining and precursor Cathode Active Material (pCAM) technology company, for the acquisition of 19.6 million common shares at a price of $4.34 apiece for $85 million.
Under the agreement, Korea Zinc was given a three-year warrant to purchase 6.9 million common shares with an exercise price per share of $7 apiece.
With the official closing, Korea Zinc is now one of TMC's largest strategic shareholders with ownership of approximately 5 percent of the company's outstanding common shares.
A tunneling machine underground, deep in the mine to extract the polymetallic nodules.
'Following the closings of these financings, the Company's cash balance is approximately $122.8 million as of June 30, 2025,' TMC the metals company Inc. (NASDAQ:TMC) said.
While we acknowledge the potential of TMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Jim Cramer Says He is 'Not a Fan of Kohl's'
Kohl's Corporation (NYSE:KSS) is one of the 25 stocks Jim Cramer recently shared insights on. While discussing the stock, Cramer mentioned that he is 'not a fan' of it, as he commented: 'We are experiencing a hundred trillion dollar wealth transfer from baby boomers to Gen X, Y, and Zers, and they're cutting their teeth on stocks right now, doing just what I'm telling you. It's easy to spot housing wins extended to beaten-down stocks like the Target or Kohl's. I'm not a fan of Kohl's…' A close-up on a fashionable pair of the company's footwear, the details revealed in sharp focus. Kohl's (NYSE:KSS) is an omnichannel retailer that provides a variety of apparel, footwear, beauty, accessories, and home products. The company features both in-house and exclusive brand names through its stores and online platform. During an episode aired on June 2, when a caller inquired about the stock, Cramer replied: 'Okay, let me tell you… Look, I think that last quarter was good. Okay, I'm going to be abject. I'm going to say it was good, and the company is not losing money. It's going to make money. I can, do I think it can go from 8 to 12? Yes, okay. That is a very big move. It could do that… And because this guy, the guy's doing a good job, the last guy seemed like a little bit of a, well, I don't know, I don't want to cast dispersions, but I think you can catch 4, but no more than that.' While we acknowledge the potential of KSS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26 minutes ago
- Yahoo
Jim Cramer on UnitedHealth: 'Suddenly Very Troubled Managed Care Company'
UnitedHealth Group Incorporated (NYSE:UNH) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Coming to UNH on his list of the worst performers of the S&P in the first six months of the year, Cramer said: 'The third worst performer was, wow, UnitedHealth Group, suddenly very troubled managed care company that used to be the ultimate darling in the group. It's down 38% in the first half. UnitedHealth's troubles are very well documented. I'm not even talking about the assassination last December, as terrible as that was. The real trouble started in April when the company reported a weak quarter, dragged down by high utilization rates, meaning people are getting much more healthcare than UNH… needs to pay for. A senior healthcare professional giving advice to a patient in a clinic. UnitedHealth Group (NYSE:UNH) operates as a diversified healthcare company providing a wide range of health benefit plans. The company delivers care services, pharmacy programs, and data-driven healthcare solutions. While we acknowledge the potential of UNH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Yahoo
26 minutes ago
- Yahoo
Jim Cramer Says Enphase is Now 'Basically Untouchable as the Fundamentals Stink'
Enphase Energy, Inc. (NASDAQ:ENPH) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Cramer noted that the reason behind the stock's decline is 'political' and commented: 'Next, the second-worst performer in the S&P through June was Enphase Energy, that's a solar power play, with the stock down 42%. Now this one is just political. The solar industry relies on tax credits, but the Big Beautiful Bill that just passed the Senate will cut those tax credits, starting in a couple of years. Doesn't help that Enphase reported the latest in a long line of weak quarters in late April. A solar panel array stretched across a large open field, its glimmering panels reflecting the sun. Enphase Energy (NASDAQ:ENPH) develops and markets smart energy solutions comprising microinverters, batteries, and software for solar power monitoring and control. The company offers energy storage products, electric vehicle charging equipment, cloud-based services, and assistance with system design and permitting. While we acknowledge the potential of ENPH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
