As another week of trading begins, investors are going to be watching several stocks like hawks and it is likely that The Metals Company (NASDAQ:TMC) is going to be one of those. The stock remained in focus among investors on Friday as it clocked gains of 9% and stretched its gains over the course of the past week to a staggering 88%.
Market Action
On Friday, TMC stock moved up 8.79% to $2.60 with 30.85 million shares, compared to its average volume of 3.15 million shares. The stock moved within a range of $2.3350 – 3.1500 after opening trade at $2.49.
Recent Updates
While the gains made by the stock may be considerable, it is perhaps also necessary to note that in the past week there has been no news about the company at all. In fact, the last time The Metals Company was in the news was back in February this year.
At the time, the company had announced that it had appointed a new independent director to its board of directors in the form of Kathleen McAllister. It was a major appointment for the company since at the time The Metals Company was in the process of advancing its project with regards to the seafloor polymetallic nodule.
The project in question is engaged with supplying the globe with the critical base metals which are necessary for energy transition. It may be a good idea to keep an eye on any fresh news with regards to The Metals Company stock.
Traders Note
TMC stock is trading above the 50-Day and 200-Day Moving averages of $1.82 and $1.64 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 72.
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