The metals society (NASDAQ:TMC) Stocks are on the move Thursday as memes traders continue to push stocks higher.
The Metals Company has had a wild ride since going public on September 10. This is because the company didn’t get as much money as it hoped from the merger of its Special Purpose Acquisition Company (SPAC) with Sustainable Opportunities Acquisition.
So why is this generating so much interest among meme stock traders? To put it simply, the massive number of investors who have pulled out of funding has left it with little float. As we already know, low float businesses are ripe for manipulation by memes and retail marketers. This seems to be what’s been happening with TMC stocks lately.
With that in mind, let’s take a look at what marketers are saying about TMC on social media.
TMC Stock Twitter Discussion
$ TMC NOW At $ 12.85 the volume is low so I have scaled most of it here, but I don’t like the volume! https://t.co/fA4It7AHCl
– Tony Montana (@ScarfaceTrades_) September 16, 2021
It should be noted that deepwater mining companies with no income are actually performing well today. $ TMC https://t.co/8RdVvkE9Te
– Lumber investor (@DumbInvestorGuy) September 16, 2021
– 🏴☠️ (@CancunCruze) September 16, 2021
I think $ TMC is set to become the favorite in the progression of%.
– ADTrades (@ayeedayy) September 16, 2021
– Bored Billionaire (@BoredBilionaire) September 16, 2021
With meme and retail traders behind the TMC stock rally, it’s no surprise that stocks are trading intensely today. As of this writing, over 25 million shares have changed hands. That’s well above its average daily trading volume of around 8.9 million shares.
Of course, investors will want to be careful before embarking on the TMC stock rally. Often, stocks that are inflated in this manner do not last long before a drop ensues. Be careful not to be among the traders holding the bag.
TMC stock was up 20% on Thursday morning.
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At the date of publication, William White did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, submitted to InvestorPlace.com Publication guidelines.