TMC the metals company Inc. (TMC) Soars 10.8% as US Judge Dismisses Shareholder Allegations

We recently published Market on Mute? Not for These 10 Stocks With Surprising Gains. TMC the metals company Inc. (NASDAQ:TMC) is one of Monday's top performers.

TMC saw its share prices rise by 10.81 percent on Monday, closing at $7.28 per share, following a US judge’s ruling in favor of the firm over alleged misrepresentations of its environmental impacts and cash reserves during its 2021 public listing through a special type of company.

In his ruling, Judge Eric R. Committee said that no purported misstatements were sufficiently alleged as false or misleading to support securities fraud claims, nor did the investors adequately submit evidence that TMC the metals company Inc. (NASDAQ:TMC) deceived them.

Last week, investors posted confidence for TMC the metals company Inc. (NASDAQ:TMC), following President Donald Trump’s imposition of 50 percent tariffs on copper imports.

According to Trump, the move was aimed at bolstering US copper production of a metal critical to electric vehicles, military hardware, the power grid, and various consumer goods.

TMC the metals company Inc. (NASDAQ:TMC), which has operations in the US through its subsidiary The Metals Company USA LLC, is set to benefit from the imposition of levies as it would result in reduced competition and strengthen its pricing power for the said metal.

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