Director Brendan May buys 25,000 shares of TMC at $0.87; holdings increase 33.3% to 100,040 shares amid unprofitable operations.
Director Brendan May purchased 25,000 shares at $0.87 on 2024-12-24, raising his stake by 33.3% to 100,040 shares total. The purchase occurred near the 52-week low of $0.72 and well below the 52-week high of $1.87, while the company reports a net income of $-20.5M and negative full-year profitability, indicating material operational challenges. The stock has risen 30.8% over the prior 30 days and trades at $1.10 currently, a 26% premium to the transaction price. This acquisition by a board-level insider in an unprofitable company at historically depressed levels merits investor scrutiny of the company's operational turnaround prospects and May's underlying confidence in management strategy.