Why Did TMC Stock Surge 10% Premarket Today?

According to the report, TMC expressed renewed optimism at an investor event in New York about starting seabed mining in the Pacific, primarily due to the Trump administration's explicit backing.

The Metals Company (TMC) was the top trending ticker on Stocktwits after its shares jumped nearly 10% in premarket trading. The rally followed a report by The Information that the company was starting seabed mining with backing from the Trump Administration.

According to the report, TMC expressed renewed optimism at an investor event in New York about starting seabed mining in the Pacific, primarily due to the Trump administration's explicit backing. The administration has been taking stakes in critical minerals companies, citing the industry as a strategic priority.

Retail sentiment on TMC remained unchanged in the ‘extremely bullish’ territory compared to a day ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.

According to TheFly, The Information reported that the attendance of senior U.S. officials underscored the government's growing involvement in critical minerals, following a series of equity deals in lithium, copper, and rare earth companies. The momentum has fueled a sharp rally in TMC’s shares in the last few days amid speculation that it could be the next to receive federal support, the report added.

On Tuesday, CNBC reported that the White House said it would take a 10% stake in Trilogy Metals as part of the current administration’s effort to unlock domestic supplies of copper and other critical minerals in the Ambler mining district in Alaska.

Earlier on Thursday, China announced broad new curbs on rare earth exports, potentially jeopardizing its trade truce with the United States. Under fresh regulations from the Ministry of Commerce, companies must now secure a dual-use export license before shipping equipment or technology abroad that could be applied to rare earth mining, smelting, separation, metal processing, or the production of magnetic materials.

Shares of TMC have gained 812% in the last 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<