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late 2027.10 stocks we like better than TMC The Metals Company ›After jumping more than 50% in the first two weeks of October, shares of prospective deep-sea minerals company The Metals Company (NASDAQ: TMC) have tumbled 36.1% over the last two weeks:The stock is still up more than 500% this year. Is it likely to climb even higher, or will it continue to sink like a rock to the bottom of the ocean? Here's what investors need to know.The Metals Company is aptly named. It's focused on collecting, processing, and refining metals from the Pacific Ocean seafloor.Specifically, The Metals Company is focused on "polymetallic nodules." Tons of these potato-sized rocks are just laying around on the Pacific Ocean seafloor. They may look unremarkable, but they're rich in the metals manganese, cobalt, nickel, and copper. While none of these metals are "rare earth" elements, they have plenty of industrial uses -- particularly in electric vehicle (EV) batteries.The nodules are particularly prevalent in the Clarion-Clipperton Zone (CCZ), which stretches from just south of Hawaii to just southeast of the Baja California peninsula on the west coast of Mexico. The Metals Company is proposing to collect, refine, and sell the metals from nodules in this area.You'll notice I said, "proposing to collect, refine, and sell." That's because The Metals Company hasn't actually launched any commercial operations yet.The CCZ is located in international waters, and is regulated by the International Seabed Authority (ISA), a United Nations affiliate. Currently, The Metals Company has exploration contracts from the ISA for two areas of the CCZ, but it doesn't have any contracts to actually collect the nodules. Nor does it have any permits to build processing facilities for the nodules on land. In other words, the company is highly speculative, and it hasn't released any recent news that suggests it's anywhere near turning this idea into a viable business.So why has its stock soared?Image source: Getty Images.Remember, the four important metals in polymetallic nodules are copper, cobalt, nickel, and manganese. Copper, cobalt, and nickel are all considered critical metals by the U.S. and other major world economies. China is the world's leading producer of refined manganese, cobalt, and copper, and the second-largest producer of refined nickel after Indonesia.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,849.58 +9.38 (+0.14%)Dow 3047,328.94 -233.93 (-0.49%)Nasdaq23,819.47 +94.51 (+0.40%)Russell 20002,468.43 -10.95 (-0.44%)VIX17.23 -0.21 (-1.20%)Gold4,024.80 +28.30 (+0.71%)PortfolioSign in to access your portfolioSign inTop gainersCIFR Cipher Mining Inc. 22.95 +4.30 (+23.10%)AMKR Amkor Technology, Inc. 37.93 +5.65 (+17.49%)IDXX IDEXX Laboratories, Inc. 716.44 +86.93 (+13.81%)KVUE Kenvue Inc. 16.37 +2.00 (+13.92%)IREN IREN Limited 68.72 +7.96 (+13.11%)Top losersQURE uniQure N.V. 34.19 -33.50 (-49.50%)RGC Regencell Bioscience Holdings Limited 13.95 -2.70 (-16.22%)KMB Kimberly-Clark Corporation 102.79 -16.92 (-14.14%)UUUU Energy Fuels Inc. 17.59 -2.93 (-14.26%)CDE Coeur Mining, Inc. 14.98 -2.19 (-12.78%)Most activeKVUE Kenvue Inc. 16.37 +2.00 (+13.92%)NVDA NVIDIA Corporation 207.10 +4.61 (+2.28%)CIFR Cipher Mining Inc. 22.95 +4.30 (+23.10%)BITF Bitfarms Ltd. 4.0965 +0.1265 (+3.19%)PFE Pfizer Inc. 24.71 +0.06 (+0.22%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 106,877.09 -3,067.08 (-2.79%)KMB Kimberly-Clark Corporation 102.66 -17.05 (-14.24%)IREN IREN Limited 68.52 +7.77 (+12.79%)PLTR Palantir Technologies Inc. 206.20 +5.73 (+2.86%)KVUE Kenvue Inc. 16.34 +1.96 (+13.67%)Top economic events