Metals Royalty Co. (TMCR) experienced a significant after-hours plunge of 13.50% on Wednesday, extending losses from its first day of trading as a publicly listed company.

The company made its debut on the Nasdaq Stock Market through a direct listing, beginning trading under the ticker symbol "TMCR." Metals Royalty aims to focus on capital development opportunities in the critical metals and minerals value chain to support mineral security and independence in North America, with its portfolio anchored by a royalty on the NORI polymetallic nodule deposit controlled by TMC the metals company.

The stock had already plummeted 16.27% during intraday trading on its listing debut, with the significant price movement triggering volatility trading pauses and NASDAQ trade halts throughout the trading session. The after-hours decline appears to be a continuation of the negative market reaction to the company's public market debut.