The Metals Company stock declined sharply in early 2026 after surging 451% in 2025 amid U.S. policy support for deep-sea mining.
Shares of The Metals Company (NASDAQ: TMC) fell 28.2% in the first half of 2026, reversing a 451% gain in 2025. The decline occurred despite no major operational setbacks, according to market data.
In 2025, TMC benefited from executive orders under former President Trump aimed at accelerating domestic critical mineral production, including deep-sea mining. The policy shift fueled investor optimism, though regulatory and environmental challenges persisted.
The company reported progress in 2026, including a May update from the National Oceanic and Atmospheric Administration, but the stock failed to sustain momentum. Market reaction suggests investor sentiment may have shifted ahead of commercial operations.