Microvast Stock Is Gaining Momentum Today After Confirming The Revenue Guidance For Fiscal 2021

Microvast, Inc. is a battery manufacturer founded in 2006 and headquartered in Houston, Texas. Within a week, the stock market significantly moved higher to $6.13 from its low of $4.95, resulting in a 19% growth. And today, it is almost reached $6.41 by 10% profit after officially confirming its revenue guidance for 2021 and plans to announce earnings in the fourth quarter. Let’s dive into that news, as well as what else investors need to know about Microvast earnings, below.

Moreover, the company confirmed that its revenue figures for the fiscal year will be in the amount of 145 or 155 million dollars, which is 42% higher than for the last year ended December 30, 2020. Recall that, the last year the total revenue amounted to 108 million. In this regard, after the market closes on Tuesday, March 29, 2022, the company will release its consolidated financial results for the fourth quarter and full-year 2021, which ended on December 31. After the publication, the team will hold a webcast and earnings conference call at 5:00 p.m. Central Time. In this situation, its stock may rise as a result of its strong performance in fiscal 2021.