TMC shares dropped 10% after successful share sale to Korea Zinc.

TMC the metals company Inc. (NASDAQ:TMC) saw a 10% drop in share prices to $5.94 after Korea Zinc’s investment. The strategic agreement involved the acquisition of 19.6 million common shares at $4.34 each for $85 million, with Korea Zinc becoming one of TMC’s largest shareholders at 5%.

The company’s cash balance is now at approximately $122.8 million following recent financings. While TMC shows investment potential, there are AI stocks with higher return potential and less downside risk. Interested investors can explore a free report on the best short-term AI stock for further insight.

In other news, TMC’s tunneling machine is hard at work extracting polymetallic nodules deep underground. For more information on top AI stocks to buy now and expert investment advice, check out Insider Monkey’s latest articles. This article was originally published on Insider Monkey.

Read more at Yahoo Finance: TMC (TMC) Ends 10% Lower After Successful Share Sale