TMC (TMC) closes 10% lower after successful stock sales

TMC The Metals Company Inc. (NASDAQ: TMC) is one of them 10 stocks falling off a cliff.

TMC closed at $5.94 amid wider market pessimism, lowering its share price by 10% on Tuesday.

Last month, TMC The Metals Company Inc. (NASDAQ:TMC) announced a strategic investment agreement with South Korea-based South Korean zinc, non-ferrous metal refining and precursor cathode active material (PCAM) technology company.

Under the agreement, South Korean zinc was given a three-year warrant to purchase $7 per share of common stock and $7 per share of common stock.

With the official closure, South Korea Zinc is currently one of TMC’s largest strategic shareholders, taking ownership of approximately 5% of the company’s outstanding common stock.

Deep in the mine, tunneling machines extract polymetal nodules.

“After these funding ends, the company’s cash balance is approximately $122.8 million as of June 30, 2025,” said TMC The Metals Company Inc. (NASDAQ: TMC).

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Read next: Best AI stocks to buy now and According to the billionaire, 30 best stocks to buy now.

Disclosure: None. This article was originally published Insider Monkey.