TMC the metals company Inc. (NASDAQ:TMC) saw a 9.70% drop on Monday after a four-day rally, closing at $6.28 per share. The surge was fueled by record high copper prices due to tight supply and a weaker US dollar. TMC focuses on deep-sea mining for nickel, copper, cobalt, and manganese nodules.

Despite being Canadian, TMC the metals company Inc. (NASDAQ:TMC) showed interest in US deep-sea mining. However, the company reported a dismal third-quarter performance with an 800% increase in net loss to $189.39 million compared to $20.5 million last year. Operating loss also rose by 177%.

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Read more at Yahoo Finance: TMC the metals company (TMC) Drops 9.7% After 4-Day Run, Here’s Why