Regulatory Winds and Strategic Wings: Why TMC and DoorDash Are Soaring High

The era of regulatory tailwinds and strategic expansions is fueling a new class of growth stocks, with The Metals Company (TMC) and DoorDash (DASH) emerging as leaders in their sectors. Both companies are leveraging policy shifts and bold operational moves to unlock multiyear growth trajectories. Here's why investors should take notice—and how to position for upside.

The Metals Company (TMC): Permitting Progress and Partnerships Power Critical Minerals Play

TMC is racing to capitalize on the U.S. critical minerals boom, driven by President Trump's April 2025 Executive Order streamlining seabed mining permits. The company submitted a commercial recovery permit application to NOAA in April, covering 25,160 sq km of the Clarion Clipperton Zone (CCZ). If approved, this would fast-track TMC's access to 15.5 million tonnes of nickel and 12.8 million tonnes of copper—critical for EV batteries and green infrastructure.

Key Catalysts:
1. Regulatory Tailwinds: The U.S. government's focus on energy independence under the Inflation Reduction Act (IRA) positions TMC's Oregon processing plant ($1.5 billion investment) to qualify for tax credits.
2. Strategic Partnerships: Korea Zinc's $85.2 million investment (securing a 5% stake) unlocks refining expertise and supply chain resilience, bypassing Chinese dominance.
3. PFS Release: A pre-feasibility study (Q3 2025) will validate project economics, potentially boosting investor confidence.

Risks: Environmental lawsuits and ISA delays linger, but TMC's Pacific Island partnerships (Nauru, Tonga) and U.S. policy alignment reduce geopolitical friction.

DoorDash (DASH): Deliveroo Acquisition and Global Scale Redefine Local Commerce

DoorDash's £2.9 billion bid for Deliveroo isn't just a European play—it's a global dominance strategy. The deal adds 30 markets to DoorDash's portfolio, countering Uber Eats and Wolt while capitalizing on Europe's $80 billion food delivery market.

Key Catalysts:
1. Regulatory Leverage: The U.S. and EU's push for digital economy growth aligns with DoorDash's autonomous delivery tech and hospitality software (via the $1.2 billion SevenRooms acquisition).
2. Synergies: Deliveroo's 10 million monthly active users and DoorDash's $3 billion Q1 revenue create a $90 billion gross order value (GOV) platform by 2027. Analysts project EBITDA improvements of 15–20% post-integration.
3. Margin Expansion: DoorDash's Q1 EBITDA hit $590 million—up 33% YoY—despite growth investments.

Risks: European antitrust scrutiny and Deliveroo's lower margins (1.5% vs. DoorDash's 2.6%) pose execution challenges.

Comparative Edge: Why Both Are Buy Candidates

Metric	TMC	DoorDash
Regulatory Upside	U.S. seabed mining permits	EU digital economy policies
Strategic Expansion	Pacific Island partnerships	Deliveroo's European footprint
Valuation	P/S 5.2x (vs. peers 7–9x)	P/S 7.7x (vs. peers 5–7x)
Analyst Consensus	85% Buy ratings (avg. $8.50 tgt)	72% Buy ratings (avg. $210 tgt)

Investment Thesis:
- TMC: A high-risk, high-reward bet on the EV metals supercycle. Near-term catalysts (permit approvals, PFS) could revalue the stock to $10–12 by 2026.
- DoorDash: A conservative growth stock with defensible margins and global scale. Regulatory hurdles are manageable, and autonomous tech could drive long-term cost savings.

Final Verdict

Both TMC and DoorDash exemplify how policy alignment and strategic boldness can turn regulatory headwinds into tailwinds. For investors:
- Buy TMC if you can tolerate volatility and believe in its critical minerals thesis.
- Buy DASH as a core holding in the e-commerce sector, benefiting from Deliveroo's synergies and autonomous innovation.

The next 12–18 months will test execution, but the regulatory and market tailwinds behind these stocks are too strong to ignore.