Why Is Microvast's Stock Surging Higher Today?

Microvast Holdings Inc MVST is trading significantly higher Thursday amid increasing retail trader interest. 

Morgan Stanley initiated coverage on Microvast with an Underweight rating and announced a price target of $6 yesterday.

Despite bearish analyst sentiment, the stock is surging higher today on above-average volume. 

Microvast is trending across popular social media platforms. It was the top trending stock on Stocktwits at publication time. Microvast is also among the top five most mentioned stocks on Reddit's WallStreetBets over the last 24 hours. 

Microvast is a technology innovator that designs, develops and manufactures lithium-ion battery solutions.

On July 27, Microvast went public on the Nasdaq via merger with special purpose acquisition company Tuscan Holdings Corp.

At last check Thursday, the stock was up 18.40% at $10.27.