Microvast $MVST stock rose 40% on October 19, 2022, after news hit that the company was one of the first recipients of the Biden Green Infrastructure spending law.
Microvast, Albemarle among infrastructure law funding recipients
On October 19, 2022, the Biden-Harris Administration, through the U.S. Department of Energy, earlier announced the first set of projects funded by the President’s Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for electric vehicles, or EVs, and the electrical grid and for materials and components currently imported from other countries. “The 20 companies will receive a combined $2.8 billion to build and expand commercial-scale facilities in 12 states to extract and process lithium, graphite and other battery materials, manufacture components, and show novel approaches, including manufacturing components from recycled materials. The Federal investment will be matched by recipients to leverage more than $9 billion to boost American production of clean energy technology, create good-paying jobs, and support President Biden’s national goals for electric vehicles to make up half of all new vehicle sales by 2030 and to transition to a net-zero emissions economy by 2050,” the DOE stated. Source: https://www.energy.gov/mesc/bipartisan-infrastructure-law-battery-materials-processing-and-battery-manufacturing-recycling
Bullish Option Flow In Microvast $MVST Stock
Make sure to review this lesson on option flow so that you understand the image above.
Microvast $MVST Stock Technical Analysis
Microvast $MVST stock is in a technical downtrend. Whenever I see a penny stock spike up like this, the first question that comes to mind is, will the company announce a dilutive share offering to raise money within the next couple of weeks?