The Metals Company (NASDAQ:TMC) stock is on the move Thursday as meme traders continue to push shares higher.
The Metals Company has been on a wild ride since going public on Sept. 10. That’s due to the company not getting as much money as it was hoping for from its special purpose acquisition company (SPAC) merger with Sustainable Opportunities Acquisition.
So why is this causing so much interest among meme stock traders? To put it simply, the massive amount of investors backing out of funding left it with a low float. As we already know, companies with low floats are ripe for manipulation by meme and retail traders. That appears to be what’s happening with TMC stock lately.
Keeping this in mind, let’s take a look at what traders are saying about TMC on social media.
TMC Stock Twitter Talk
$TMC NOW AT $12.85 volume is low so I scaled most here have a little remaining but I don’t like volume! https://t.co/fA4It7AHCl
— Tony Montana (@ScarfaceTrades_) September 16, 2021
Worth noting that deep sea mining companies with no revenue are in fact performing today $TMC https://t.co/8RdVvkE9Te
— Lumber Investor Guy (@DumbInvestorGuy) September 16, 2021
$TMC spiked once trading started and look how quickly it dropped. It pays to be patient pic.twitter.com/ARlcyVHVjM
— 🏴☠️ (@CancunCruze) September 16, 2021
I think $TMC is poised to become the front runner in %'s moving forward.
— ADTrades (@ayeedayy) September 16, 2021
Still holding $TMC and $OPAD . Kinda risky now but I am fine with the money I Have in there
— Bored Billionaire (@BoredBilionaire) September 16, 2021
With meme and retail traders behind the TMC stock rally, it’s no surprise that shares are experiencing heavy trading today. As of this writing, more than 25 million shares of the stock have changed hands. That’s well above its daily average trading volume of about 8.9 million shares.
Of course, investors will want to be careful about jumping into the TMC stock rally. Oftentimes stocks that are pumped up in this manner don’t last long before a fall follows. Be careful so you aren’t one of the traders left holding the bag.
TMC stock was up 20% as of Thursday morning.
There’s more stock market news investors will want to know about below!
We’ve got all the latest stock news traders need to know about with our daily market coverage. For today, that includes what’s happening with shares of Palantir Technologies (NYSE:PLTR), AMC Entertainment’s (NYSE:AMC), and Offerpad Solutions (NYSE:OPAD). You can get all these details at the following links!
More Stock Market News for Thursday
- PLTR Stock Pushes Higher on Connected Vehicle Partnership
- AMC Stock Fans Cheer News That AMC Will Accept Cryptos LTC, ETH, BCH and BTC
- Say Hello to New Meme Stock Offerpad Solutions as OPAD Soars on Short-Squeeze Chatter
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
