TMC the metals company (TMC) Tumbles 10% on Profit-Taking After Meteoric Rise

We recently published 10 Stocks Crash Harder than Wall Street. TMC the metals company Inc. (NASDAQ:TMC) is one of the worst performers on Wednesday.

TMC the metals company declined by 10.10 percent on Wednesday to finish at $9.61 apiece as investors resorted to profit-taking amid a meteoric rise in just the first two weeks of the month, while unloading positions amid the lack of developments in the deep-sea mining sector.

In just the past few trading days of October, TMC the metals company Inc. (NASDAQ:TMC) saw its stock price jump by as much as 78 percent, having hit $11.35 at intra-day trading last Monday. A pullback was observed on Wednesday to register a month-to-date gain of 51 percent.

TMC the metals company Inc. (NASDAQ:TMC) is a Canada-based deep-sea mining company, which recently filed its intention with the US government to mine in the international seabed through its US subsidiary.

Following its intention, the listed firm drew criticism from both environmental advocates and members of the International Seabed Authority (ISA) for allegedly bypassing the agency, being originally a Canadian company, and with Canada a member of the ISA.

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