Microvast shares are trading lower after the US Energy Department reportedly cancelled contract negotiations for a $200 million award for the company.
Portfolio Pulse from Benzinga Newsdesk
Microvast shares are trading lower after the US Energy Department cancelled contract negotiations for a $200 million award for the company.
May 22, 2023 | 8:57 pm
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NEGATIVE IMPACT
Microvast's stock price is negatively impacted by the cancellation of contract negotiations for a $200 million award by the US Energy Department.
The cancellation of contract negotiations for a $200 million award by the US Energy Department directly affects Microvast's potential revenue and growth prospects. This negative news is likely to cause a short-term decline in the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100