The Metals Company (NASDAQ:TMC) stock is trading higher Wednesday after Wedbush upgraded the stock from a Neutral rating to an Outperform rating and raised its price target from $6 to $11.
What To Know: Wedbush has “significantly increased confidence” in the company’s longer-term growth potential after President Donald Trump signed an Executive Order supporting critical mineral development at the end of April.
Trump's April 24 executive order directs federal agencies to fast-track permits for seabed mining of critical minerals like nickel, cobalt and rare earths. Overall, it aims to boost domestic processing, encourage the use of U.S. ships and reduce reliance on foreign supply chains, specifically related to China.