Ramaco (METC) Ends 12-Day Run on Profit-Taking; Already Up 73% Month-to-Date

We recently published 10 Stocks Crash Harder than Wall Street. Ramaco Resources, Inc. (NASDAQ:METC) is one of the worst performers on Wednesday.

Ramaco Resources snapped a 12-day winning streak on Wednesday, losing 12.29 percent to close at $47.85 apiece as investors began to take profits following a meteoric rise.

Wednesday’s drop can be attributed to a correction following a 73.56 percent gain from the 12 straight days of rally.

In other recent developments, Ramaco Resources, Inc. (NASDAQ:METC) secured the approval to join the Defense Industrial Base Consortium (DIBC)—an initiative sponsored by the Department of War to strengthen and expand the country’s defense industrial base by fostering collaboration among the government, industry, and academia. It aims to build a robust, secure, and resilient supply chain capable of responding to national security needs without reliance on foreign sources.

“Ramaco’s inclusion in the DIBC is a significant step forward in our efforts to contribute to the domestic supply of critical minerals essential for defense and energy technologies,” said Ramaco Resources, Inc. (NASDAQ:METC) Chairman and CEO Randall Atkins.

“We are honored to support the Department of War’s mission to secure the nation’s industrial base and look forward to collaborating with other consortium members to advance innovation, national security, and supply chain resilience,” he added.

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