Tuscan Holdings (NASDAQ: THCB) is one of the stocks to have managed to maintain its momentum this morning after having recorded significant gains on Tuesday.
The rally in the stock is actually related to a 10-year battery supply contract that was signed by Oshkosh with USPS yesterday. Microvast, which is a battery provider, is going to be the key to this deal. In this regard, it should be noted that Microvast is all set to go public through Tuscan Holdings Corp, a blank cheque company.
Hence, the picture slowly emerges of a situation in which Tuscan Holdings stands to benefit directly due to the USPS contract. Microvast is going to be the supplier of the batteries to Oshkosh and considering the length of the contract, it is easy to see why investors are excited about the prospects of Tuscan Holdings. It now remains to be seen if the stock manages to break out today.