24H | Oil Stocks Rebound With Houston American, US Energy up 6% Each; The Metals Company Jumps Another 5.6%; Richtech Robotics up 3.7%
Robotic stocks jumped in overnight trading with Richtech Robotics up 3.7%; Mobilicom Limited up 3.6%.
The Metals Company rose 5.6% in overnight trading after jumping 5.6% on Wednesday.
Wedbush upgraded The Metals Company to Outperform from Neutral and raised its price target to $11 from $6 given a stronger U.S. government support and a faster path to commercial deep-sea mining following a recent executive order.
The brokerage said an order signed by President Trump in April could allow TMC to bypass the UN-affiliated International Seabed Authority and accelerate production in the Clarion Clipperton Zone.
That shift, combined with more than $120 million in recent capital raises, including $85 million from Korea Zinc, strengthens the company’s financial position and timeline, Wedbush said.
“TMC is well-positioned to emerge as a critical enabler of US supply chain independence through increased urgency from intensifying trade tensions with China, particularly around rare earths and critical minerals,” analysts said on its first-mover advantage in deep sea mining.
Oil stocks rebounded in overnight trading with Houston American up 6.6%; US Energy up 6%.
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