Microvast Stock Is Moving Higher On Company Response To DOE
Portfolio Pulse from Adam Eckert
Microvast Holdings Inc (NASDAQ:MVST) shares are trading higher after the company responded to the U.S. Department of Energy (DOE) canceling contract negotiations and withdrawing its $200 million grant. Microvast stated it has no relations with the Chinese government and is considering all options. The decision will not impact the company's full-year guidance.
May 24, 2023 | 12:59 pm
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Microvast shares are trading higher after the company responded to the DOE's decision to cancel contract negotiations and withdraw its $200 million grant. The company denies ties to China and maintains its full-year guidance.
Microvast's stock price is likely to go up in the short term due to the company's response to the DOE's decision. The company has denied any ties to the Chinese government and has maintained its full-year guidance, which may reassure investors and positively impact the stock price.
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