Why TMC The Metals Company Stock Dropped 17.7% Today
2026-01-26 20:04:49 ET
Shares of TMC The Metals Company (NASDAQ: TMC) plummeted on Monday, finishing down 17.7%. The slide came as the S&P 500 gained 0.5% while the Nasdaq Composite rose 0.4%.
The sea-based mining company is seeing its shares fall after it was revealed that the U.S. government is making a direct investment in the rare-earth miner USA Rare Earth that could result in as much as a 15% equity stake. Mining stocks -- TMC included -- have been inflated on hopes that they might secure such a deal.
The nearly $1.6 billion deal is made up of $277 million in direct funding as well as $1.3 billion in federal loans through the CHIPS Act. The move is part of the Trump administration's push to secure domestic access to strategic resources. As U.S. Commerce Secretary Howard Lutnick put it, "This investment ensures our supply chains are resilient and no longer reliant on foreign nations."
NASDAQ: TMC
TMC Trading
-2.11% G/L:
$6.275 Last:
1,748,690 Volume:
$6.28 Open:
