Microvast Holdings Inc (NASDAQ:MVST) is trading significantly higher Monday on above-average volume.
Oil prices have continued to surge, reaching the highest levels in 13 years, which has increased focus on electrification and battery solutions. Brent crude, the international benchmark, traded over $139 on Sunday before pulling back modestly. This has lifted stocks in alternative energy-related sectors.
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Microvast is a technology innovator that designs, develops and manufactures lithium-ion battery solutions. The company is well known for its cutting-edge cell technology and its vertical integration capabilities which extend from core battery chemistry to battery packs.
Microvast's average session volume is about 1.02 million over a 100-day period, according to data from Benzinga Pro. Monday's trading session has already exceeded 2.6 million at publication time.
MVST 52-Week Range: $4.77 - $15.91
Microvast shares were up 26.1% at $8.22 at time of publication.
Photo: courtesy of Microvast.
