Deep (Sea) Dive

Upcoming arbitration decision might buoy a drowning stock

Ever since James Cameron did his 2012 Challenger Deep submersible expedition, deep sea diving has been under a bit of pressure with the world of private and publicly traded exploration companies facing literal and figurative implosions. The last two years of the TMC 0.00%↑ stock chart, for example, look more like the profile view of a continental shelf than a thriving business.

Deep sea exploration is a tough, time-intensive, and capital-intensive game. It often involves pursuing mineral deposits around the globe, adding geopolitical risk to the laundry list of other risks inherent to the business. “Investing” in these businesses is probably more akin to buying a lottery ticket.

One of those lottery tickets might just pay off for some investors, but not for the reasons you might think.