TMC The Metals Company (NASDAQ: TMC) stock got hit with a significant pullback in July’s trading. The company’s share price slumped 10% in a month of trading that saw the S&P 500 index rise 2.2% and the Nasdaq Composite index jump 3.7%.
While the broader market rose in relation to developments that suggested that the U.S. and China could be moving closer to a trade deal that would lower tariffs and resolve other key issues, TMC stock saw a pullback as a result of the news. On the other hand, recent pullbacks for its share price come on the heels of a massive valuation run-up for the company this year.
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