The Metals Company (TMC) Stock Surges 24% After-Hours on CFO’s Short Seller Warning
The Metals Company's stock soared 24% in after-hours trading following provocative remarks from CFO Craig Shesky. The executive warned short sellers—who account for 13.7% of float—they risked "a very bad day" if regulatory approvals materialize for deep-sea mining operations.
TMC controls an estimated $23.6 billion worth of polymetallic nodules containing battery metals like cobalt and nickel. While still facing regulatory hurdles, the company anticipates potential production start before its Q4 2027 target if approvals accelerate. Current cash reserves stand at $115 million with an additional $430 million potentially available through warrants.
The stock's 385% year-to-date gain contrasts sharply with its 49% decline from October peaks. November's 17% drop marks the worst monthly performance since July 2024, exacerbated by a $184.5 million quarterly loss.
