Why Microvast Shares Are Soaring Again Today

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

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

Despite bearish analyst sentiment, the stock is surging higher again 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 the second most mentioned stock 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 Friday, the stock was up 15.70% at $12.11.