#6 - Microvast (NASDAQ:MVST)
Speaking of electric vehicles, another way to invest in this technology via a penny stock is though Microvast Holdings, Inc. (NASDAQ: MVST). The company designs high-speed charging solutions for commercial vehicles. This is a niche market, but one that could give the company a competitive advantage.
Like many EV-adjacent stocks, MVST stock soared in early 2021 as enthusiasm about the growth of the EV sector caused a bubble to form. The stock has drifted back near the $1 mark, and investors have to decide what kind of opportunity exists.
In the short term, they will have to weigh the recent denial of a loan from the U.S. Department of Energy (DOE). There are concerns that the company has links to the Chinese government. The company, which is headquartered in Texas denies the charges, but it will continue to weigh on the stock.
About Microvast
Microvast Holdings, Inc provides battery technologies for electric vehicles and energy storage solutions. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2. It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator.
More- Current Price
- $1.65
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 2 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $3.33 (102.0% Upside)
